By Marisa Wong
Madison, Wis., Nov. 4 – JPMorgan Chase & Co. priced $1 million of autocallable contingent interest notes due Nov. 18, 2015 linked to Weatherford International plc shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 15.4% if the stock closes at or above the trigger level, 70% of the initial share price, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial share price on any quarterly review date other than the final review date.
If the notes have not been called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Weatherford International plc (Symbol: WFT)
|
| Amount: | $1 million
|
| Maturity: | Nov. 18, 2015
|
| Coupon: | 15.4%, payable if the stock closes at or above trigger level on quarterly review date
|
| Price: | Par of $1,000
|
| Payout at maturity: | If stock finishes at or above trigger level, par plus contingent coupon; otherwise, investors will be fully exposed to any losses
|
| Call: | At par plus contingent coupon if stock closes at or above initial share price on any quarterly review date other than final review date
|
| Initial level: | $16.53
|
| Trigger price: | $11.571, 70% of initial share price
|
| Pricing date: | Oct. 29
|
| Settlement date: | Oct. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48127DR75
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
