By Toni Weeks
San Luis Obispo, Calif., May 12 – JPMorgan Chase & Co. priced $7.32 million of 0% trigger autocallable optimization securities due May 14, 2020 linked to the Market Vectors Oil Services exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning May 16, 2016, the notes will be called at par of $10 plus a call return of 8.54% if the ETF closes at or above the initial share price on any quarterly observation date.
If the notes are not called and the ETF finishes at or above the trigger level, 60% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the underwriters.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Trigger autocallable optimization securities
|
| Underlying fund: | Market Vectors Oil Services ETF
|
| Amount: | $7,319,000
|
| Maturity: | May 14, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If ETF finishes at or above trigger level, par; otherwise, 1% loss for every 1% decline in share price from initial price
|
| Call: | At par plus 8.54% per year if ETF closes at or above initial share price on any quarterly observation date beginning May 16, 2016
|
| Initial price: | $38.57
|
| Trigger price: | $23.14, 60% of initial price
|
| Pricing date: | May 8
|
| Settlement date: | May 13
|
| Underwriters: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 48127X401
|
© 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.
