Published on 5/29/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $285,000 autocallable contingent interest notes linked to indexes, ETF
By Toni Weeks
San Luis Obispo, Calif., May 29 - JPMorgan Chase & Co. priced $285,000 of autocallable contingent interest notes due Sept. 1, 2015 linked to the lesser performing of the Russell 2000 index, the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 with the Securities and Exchange Commission.
If each underlying closes at or above the 75% barrier level on a quarterly review date, the notes will pay a coupon at an annual rate of 9% for that quarter.
If each underlying closes at or above its initial level on any review date other than the final review date, the notes will be called at par plus the coupon.
If the notes are not called, the payout at maturity will be par unless any underlying component closes below its 75% trigger level on the Aug. 27, 2015 final review date, in which case investors will be fully exposed to the decline of the lesser-performing component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying components: | Russell 2000 index, Euro Stoxx 50 index and iShares MSCI Emerging Markets ETF
|
| Amount: | $285,000
|
| Maturity: | Sept. 1, 2015
|
| Coupon: | 9%, payable quarterly if each underlying closes at or above 75% barrier level
|
| Price: | Par of $10
|
| Payout at maturity: | Par, unless any underlying component closes below 75% trigger level on Aug. 27, 2015, in which case investors will be fully exposed to decline of lesser-performing component
|
| Call: | At par plus contingent coupon if each underlying closes at or above its initial level on any quarterly review date other than final review date
|
| Initial levels: | 1,142.201 for Russell, 3,244.28 for Euro Stoxx, $42.77 for ETF
|
| Barrier/trigger levels: | 856.65075 for Russell, 2,433.21 for Euro Stoxx, $32.0775 for ETF, 75% of initial levels
|
| Pricing date: | May 27
|
| Settlement date: | May 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48127DHE1
|
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