Published on 6/22/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.35 million autocallables linked to Euro Stoxx 50, iShares MSCI EM
By Susanna Moon
Chicago, June 22 – JPMorgan Chase & Co. priced $2.35 million of autocallable notes due June 21, 2018 linked to the lesser performing of the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 12.45% if each component closes at or above its call level on June 27, 2016, June 19, 2017 or June 18, 2018. The call level will be 100% of the initial levels on the first call valuation date and 90% of the initial levels for the second and third call valuation dates.
The payout at maturity will be par unless either component finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worst performing component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Autocallable notes
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| Underlyings: | Euro Stoxx 50 index and the iShares MSCI Emerging Markets ETF
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| Amount: | $2.35 million
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| Maturity: | June 21, 2018
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| Coupon: | 6%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless either component finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worst performing component
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| Call: | At par plus 12.45% if each component closes at or above its call level on June 27, 2016, June 19, 2017 or June 18, 2018; call level will be 100% of the initial levels on the first call valuation date and 90% of the initial levels for the second and third call valuation dates
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| Initial levels: | 3,450.45 for Stoxx and $40.41 for iShares MSCI EM
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| Trigger levels: | 2,415.315 for Stoxx and $28.287 for iShares MSCI EM; 70% of initial levels
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| Pricing date: | June 18
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| Settlement date: | June 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.25%
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| Cusip: | 48125UXS6
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