By Marisa Wong
Morgantown, W.Va., April 12 – JPMorgan Chase & Co. priced $1.69 million of trigger autocallable contingent yield notes due April 14, 2021 linked to the common stock of Eli Lilly and Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if the shares close at or above the coupon barrier, 65.75% of the initial price, on the observation date for that month.
The notes will be called at par plus the contingent coupon if the shares close at or above their initial price on any monthly observation date beginning April 10, 2017.
The payout at maturity will be par unless the shares finish below the 65.75% downside threshold level, in which case investors will be fully exposed to the decline.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | Eli Lilly and Co. (Symbol: LLY)
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| Amount: | $1,686,000
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| Maturity: | April 14, 2021
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| Coupon: | Contingent monthly coupon at an annual rate of 8% if the shares close at or above the coupon barrier on the observation date for that month
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| Price: | Par of $10.00
|
| Payout at maturity: | Par if Eli Lilly shares finish at or above downside threshold; otherwise, full exposure to share price decline
|
| Call: | Automatically at par plus contingent coupon if Eli Lilly shares close at or above initial share price on any monthly observation date beginning April 10, 2017
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| Initial share price: | $74.39
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| Barrier/downside threshold: | $48.91, 65.75% of initial price
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| Pricing date: | April 8
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| Settlement date: | April 13
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 48128B754
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