New Issue: JPMorgan prices $2.94 million 9% callable yield notes linked to Russell, S&P

By Tali Rackner

Norfolk, Va., April 5 – JPMorgan Chase & Co. priced $2.94 million of 9% callable yield notes due April 3, 2017 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be callable at par on July 5, Oct. 3, 2016 or Jan. 4, 2017.

The payout at maturity will be par unless either index closes below its initial level and either index has closed below its 70% trigger value on any day during the life of the notes, in which case investors will be fully exposed any losses of the worse performing index.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Callable yield notes
Underlying indexes:	Russell 2000 and S&P 500
Amount:	$2,943,000
Maturity:	April 3, 2017
Coupon:	9%, payable monthly
Price:	Par of $1,000
Payout at maturity:	Par plus final interest payment unless either index finishes below its trigger level, in which case full exposure to decline of worse performing index
Call option:	At par on on July 5, Oct. 3, 2016 or Jan. 4, 2017
Initial levels:	1,080.231 for Russell 2000 and 2,037.05 for S&P
Trigger levels:	756.1617 for Russell 2000 and 1,425.935 for S&P; 70% of initial levels
Pricing date:	March 28
Settlement date:	March 31
Agent:	J.P. Morgan Securities LLC
Fees:	0.34873%
Cusip:	48128GPS3

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.