Published on 6/23/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.04 million autocallable yield notes linked to index, two funds
By Marisa Wong
Madison, Wis., June 23 – JPMorgan Chase & Co. priced $1.04 million of 6% autocallable yield notes due Sept. 22, 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, 65% 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
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| Underlying components: | iShares MSCI Emerging Markets ETF, Financial Select Sector SPDR fund, Russell 2000 index
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| Amount: | $1,037,000
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| Maturity: | Sept. 22, 2016
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| Coupon: | 6%, payable monthly
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| Price: | Par
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| 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: | $40.06 for EM fund, $24.74 for financial fund, 1,284.661 for index
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| Trigger values: | $26.039 for EM fund, $16.081 for financial fund, 835.02965 for index; 65% of initial levels
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| Pricing date: | June 19
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| Settlement date: | June 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.35%
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| Cusip: | 48125UUY6
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