By Marisa Wong
Morgantown, W.Va., Feb. 3 – JPMorgan Chase & Co. priced $1.59 million of autocallable contingent interest notes due Oct. 30, 2018 linked to the least performing of the common stocks of Bank of America Corp., Exxon Mobil Corp. and YUM! Brands, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 10.75% if each stock closes at or above the 50% interest barrier level on the review date for that month.
The notes will be called at par plus the coupon if each stock closes at or above the initial share price on any quarterly autocall review date.
If the notes have not been called and each stock finishes at or above the 50% trigger level, the payout at maturity will be par plus the coupon.
Otherwise, investors will be fully exposed to any losses of the worst performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Bank of America Corp. (Symbol: BAC); Exxon Mobil Corp. (Symbol: XOM), YUM! Brands, Inc. (Symbol: YUM)
|
| Amount: | $1,588,000
|
| Maturity: | Oct. 30, 2018
|
| Coupon: | 10.75% per year, payable monthly if each stock closes at or above barrier that month
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus contingent coupon unless any stock finishes below 50% trigger level, in which case full exposure to losses of worst-performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly autocall review date
|
| Initial levels: | $12.96 for BofA, $73.98 for Exxon, $67.39 for Yum
|
| Barrier/trigger levels: | $6.48 for BofA, $36.99 for Exxon, $33.695 for Yum; 50% of initial prices
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.35%
|
| Cusip: | 48128GJY7
|
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