By Angela McDaniels
Tacoma, Wash., Sept. 17 – JPMorgan Chase & Co. priced $10,000 of 9.5% autocallable reverse exchangeable notes due Sept. 20, 2016 linked to the American Depositary Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Alibaba ADSs close at or above the initial ADS price on March 15, 2016 or June 15, 2016.
If the notes are not called, the payout at maturity will be par unless the final ADS price is less than the initial ADS price and the ADSs close below the trigger price, 65% of the initial ADS price, on any day during the life of the notes, in which case the payout will be a number of Alibaba ADSs equal to $1,000 divided by the initial ADS price or, at the issuer’s option, an amount in cash equal to the value of those ADSs.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable reverse exchangeable notes
|
| Underlying stock: | Alibaba Group Holding Ltd. (Symbol: BABA)
|
| Amount: | $10,000
|
| Maturity: | Sept. 20, 2016
|
| Coupon: | 9.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless final ADS price is less than initial ADS price and ADSs close below trigger price on any day during life of notes, in which case 15.4202 Alibaba ADSs or cash amount equal to value of those ADS
|
| Call: | At par if ADSs close at or above initial ADS price on March 15, 2016 or June 15, 2016
|
| Initial ADS price: $64.85
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| Trigger value: | $42.1525, 65% of initial ADS price
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| Pricing date: | Sept. 15
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| Settlement date: | Sept. 18
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 46625HND8
|
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