New Issue: JPMorgan prices $614,000 callable yield notes linked to S&P, Russell

By Wendy Van Sickle

Columbus, Ohio, April 28 – JPMorgan Chase & Co. priced $614,000 of 7% callable yield notes due May 1, 2017 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be callable at par on Oct. 31, 2016 and Jan. 31, 2017.

The payout at maturity will be par unless either index finishes below its initial level and either index has closed below its 70% trigger level on any day during the life of the notes, in which case investors will be fully exposed any losses of the worse performing index.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Callable yield notes
Underlying indexes:	Russell 2000 and S&P 500
Amount:	$614,000
Maturity:	May 1, 2017
Coupon:	7%, payable monthly
Price:	Par of $1,000
Payout at maturity:	Par plus final interest payment unless either index finishes below its initial level and either index has closed below trigger level on any day during life of notes, in which case full exposure to decline of worse performing index
Call option:	At par on Oct. 31, 2016 or Jan.31, 2017
Initial levels:	1,150.728 for Russell, 2,091.70 for S&P
Trigger levels:	805.5096 for Russell 2000, 1,464.19 for S&P; 70% of initial levels
Pricing date:	April 26
Settlement date:	April 29
Agent:	J.P. Morgan Securities LLC
Fees:	2.5%
Cusip:	48128GUX6

© 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.