Published on 5/21/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $974,000 6% autocallable yield notes linked to index, two funds
By Toni Weeks
San Luis Obispo, Calif., May 21 – JPMorgan Chase & Co. priced $974,000 of 6% autocallable yield notes due Aug. 24, 2016 linked to the least performing of the iShares MSCI Emerging Markets exchange-traded fund, the Financial Select Sector SPDR fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each component closes at or above its initial level on any quarterly review date other than the final review date.
The payout at maturity will be par unless any component closes below its trigger level, 66% of its initial level, on any day during the life of the notes and any component finishes below its initial level, in which case investors will be fully exposed to the decline 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, Financial Select Sector SPDR fund, Russell 2000 index
|
| Amount: | $974,000
|
| Maturity: | Aug. 24, 2016
|
| Coupon: | 6%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any component closes below trigger level on any day during life of notes and any component finishes below initial level, in which case full exposure to decline of worst-performing component
|
| Call: | Automatically at par if each component closes at or above initial level on any quarterly review date other than final review date
|
| Initial levels: | $42.78 for iShares EM, $24.98 for Financial Select, 1,255.658 for Russell
|
| Trigger values: | $28.2348 for iShares EM, $16.4868 for Financial Select, 828.73428 for Russell; 66% of initial levels
|
| Pricing date: | May 19
|
| Settlement date: | May 22
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.35%
|
| Cusip: | 48125UPG1
|
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