Published on 9/23/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.05 million 8.25% upside autocallable reverse exchangeables linked to Facebook
By Angela McDaniels
Tacoma, Wash., Sept. 23 – JPMorgan Chase & Co. priced $3.05 million of 8.25% upside autocallable reverse exchangeable notes due Sept. 24, 2015 linked to the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Facebook stock closes at or above the initial share price on March 19, 2015 or June 19, 2015.
If the notes are not called, the payout at maturity will be par unless Facebook stock closes below the buffer level, 70% of the initial share price, during the life of the notes and finishes below the initial price, in which case the payout will be a number of Facebook shares equal to $1,000 divided by the initial share price or, at the issuer’s option, a cash amount equal to the value of those shares.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Upside autocallable reverse exchangeable notes
|
| Underlying stock: | Facebook, Inc. (Symbol: FB)
|
| Amount: | $3,052,000
|
| Maturity: | Sept. 24, 2015
|
| Coupon: | 8.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Facebook stock declines by more than buffer amount during life of notes and finishes below initial price, in which case 12.8353 Facebook shares or, at issuer’s option, amount in cash equal to value of those shares
|
| Call: | Automatically at par if Facebook stock closes at or above initial share price on March 19, 2015 or June 19, 2015
|
| Initial share price: | $77.91
|
| Buffer amount: | $23.373, 30% of initial share price
|
| Pricing date: | Sept. 19
|
| Settlement date: | Sept. 24
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48127DZN1
|
© 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.
