Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers J > Headlines for JPMorgan Chase & Co. > News item |
JPMorgan to price trigger phoenix autocallables linked to Russell 2000
By Angela McDaniels
Tacoma, Wash., Dec. 11 – JPMorgan Chase & Co. plans to price trigger phoenix autocallable optimization securities due Dec. 21, 2018 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If the index closes at or above the trigger level, 70% of the initial level, on a semiannual observation date, the issuer will pay a contingent coupon for that six-month period at the rate of 8% to 8.25% per year. Otherwise, no coupon will be paid for that semiannual period. The exact contingent coupon rate will be set at pricing.
If the index closes at or above the initial level on a semiannual observation date, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and the index finishes at or above the trigger level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the index’s decline from the initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
The notes will price Dec. 18.
The Cusip number is 48128A798.
© 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.