Published on 7/24/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.1 million autocallable yield notes linked to fund, two indexes
By Marisa Wong
Madison, Wis., July 24 – JPMorgan Chase & Co. priced $1.1 million of 6% autocallable yield notes due Oct. 27, 2016 linked to the least performing of the Financial Select Sector SPDR 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 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: | Financial Select Sector SPDR fund, Euro Stoxx 50 index, Russell 2000 index
|
| Amount: | $1,104,000
|
| Maturity: | Oct. 27, 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: | $25.58 for fund, 3,635.58 for Euro Stoxx and 1,258.350 for Russell
|
| Trigger values: | $16.8828 for fund, 2,399.4828 for Euro Stoxx and 830.511 for Russell; 66% of initial levels
|
| Pricing date: | July 22
|
| Settlement date: | July 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.35%
|
| Cusip: | 48125UZU9
|
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