Published on 2/21/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $600,000 6.25% autocallable yield notes on fund, indexes
By Marisa Wong
Madison, Wis., Feb. 21 - JPMorgan Chase & Co. priced $600,000 of 6.25% autocallable yield notes due May 26, 2015 linked to the iShares MSCI Emerging Markets exchange-traded fund, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par plus accrued interest if each component closes at or above its initial level on any quarterly call date.
A trigger event will occur if any component closes below its initial level by more than the 40% buffer amount on any trading day during the life of the notes.
The payout at maturity will be par unless a trigger event occurs and the return of the worst performing component is negative, in which case investors will share in losses of the worst performing component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying components: | iShares MSCI Emerging Markets ETF, Euro Stoxx 50 and Russell 2000 index
|
| Amount: | $600,000
|
| Maturity: | May 26, 2015
|
| Coupon: | 6.25%, payable quarterly
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless any component falls below its initial level by more than buffer amount on any trading day during life of notes and return of worst performing component is negative, in which case full exposure to losses of worst performing component
|
| Call: | Automatically at par plus accrued interest if each component closes at or above its initial level on any quarterly call date
|
| Initial levels: | $39.02 for iShares EM, 3,120.80 for Euro Stoxx, 1,149.066 for Russell
|
| Buffer amounts: | $15.608 for iShares EM, 1,248.32 for Euro Stoxx, 459.6264 for Russell; 40% of initial levels
|
| Pricing date: | Feb. 19
|
| Settlement date: | Feb. 24
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.35%
|
| Cusip: | 48126N3M7
|
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