By Angela McDaniels
Tacoma, Wash., July 21 – JPMorgan Chase & Co. priced $1 million of autocallable contingent interest notes due July 20, 2018 linked to the lesser performing of the common stocks of Wynn Resorts, Ltd. and National Oilwell Varco, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Every six months, the notes will pay a coupon at the rate of 20% per year if each stock closes at or above its barrier price on the review date for that semiannual period. For each stock, the barrier price is 64% of its initial share price.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial share price on any semiannual review date other than the final review date.
If the notes have not been called, the payout at maturity will be par plus the contingent coupon unless either stock finishes below its barrier price, in which case investors will be fully exposed to the decline of the lesser-performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Wynn Resorts, Ltd. (Symbol: WYNN) and National Oilwell Varco, Inc. (Symbol: NOV)
|
| Amount: | $1 million
|
| Maturity: | July 20, 2018
|
| Coupon: | Every six months, notes pay coupon at rate of 20% per year if each stock closes at or above barrier price on review date for that semiannual period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless either stock finishes below barrier value, in which case full exposure to decline of lesser-performing stock
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial share price on any semiannual review date other than final one
|
| Initial share prices: | $101.71 for Wynn Resorts and $43.01 for National Oilwell Varco
|
| Barrier values: | $65.0944 for Wynn Resorts and $27.5264 for National Oilwell Varco; 64% of initial share prices
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| Pricing date: | July 17
|
| Settlement date: | July 22
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48125UA77
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