By Wendy Van Sickle
Columbus, Ohio, Dec. 14 – JPMorgan Chase & Co. priced $1.32 million of autocallable contingent interest notes due Dec. 19, 2018 linked to the S&P GSCI Crude Oil Index Excess Return index, according to a 424B2 filed with the Securities and Exchange Commission.
If the index closes at or above the interest barrier, 70% of the initial level, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 11.7%.
The notes will be called at par plus the contingent coupon if the index closes at or above the initial level on any quarterly determination date other than the first and final determination dates.
If the final level is greater than or equal to the 70% trigger level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final level is less than the initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying index: | S&P GSCI Crude Oil-Excess Return index
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| Amount: | $1,316,000
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| Maturity: | Dec. 19, 2018
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| Coupon: | 11.7% per year, payable quarterly if the index closes at or above coupon barrier level on the determination date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus the final contingent coupon unless index finishes below 70% barrier level, in which case full exposure to loss
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| Call option: | At par on any quarterly determination date other than the first and final determination dates
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| Initial level: | 2,089.14
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| Interest barrier/trigger level: | 166.2163, 70% of initial level
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| Pricing date: | Dec. 10
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| Settlement date: | Dec. 15
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.255%
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| Cusip: | 48128GFQ8
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