Published on 9/29/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $559,000 review notes linked to S&P 500, Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., Sept. 29 – JPMorgan Chase & Co. priced $559,000 of 0% review notes due Sept. 28, 2017 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 10.5% per year if each index closes at or above its initial level on Oct. 1, 2015, Sept. 26, 2016 or Sept. 25, 2017.
If the notes are not called and the final level of each index is less than its initial level by up to 25%, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% that the lesser-performing index's final level is less than its initial level.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Review notes
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Underlying indexes: | S&P 500 and Euro Stoxx 50
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Amount: | $559,000
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Maturity: | Sept. 28, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If notes are not called and final level of each index is less than initial level by up to 25%, par; otherwise, 1% loss for each 1% that lesser-performing index's final level is less than initial level
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Call: | Automatically at par plus 10.5% per year if each index closes at or above initial level on Oct. 1, 2015, Sept. 26, 2016 or Sept. 25, 2017
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Initial index levels: | 1,965.99 for S&P 500 and 3,202.31 for Euro Stoxx 50
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Pricing date: | Sept. 25
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Settlement date: | Sept. 30
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.8893%
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Cusip: | 48127DWY2
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