New Issue: JPMorgan prices $13 million review notes tied to S&P 500, Russell

By Jennifer Chiou

New York, Oct. 3 - JPMorgan Chase & Co. priced $13 million of 0% review notes due April 7, 2015 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a premium of 9% per year if each index closes at or above its initial level on any of the quarterly review dates beginning on April 2, 2014.

If the notes are not called and the lesser-performing index falls by up to 20%, the payout at maturity will be par. Otherwise, investors will be exposed to losses at a rate of 1.25% for each 1% drop beyond 20%.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Review notes
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$13 million
Maturity:	April 7, 2015
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless the lesser-performing index falls by more than 20%, in which case exposure to losses at a rate of 1.25% for each 1% drop beyond 20%
Initial levels:	1,681.55 for S&P 500, 1,073.79 for Russell
Buffer amount:	20%
Call:	At par plus 9% per year if each index closes at or above initial level on any of the quarterly review dates beginning on April 2, 2014
Pricing date:	Oct. 2
Settlement date:	Oct. 7
Agent:	J.P. Morgan Securities LLC
Fees:	0.096% plus up to 0.15% for selling concessions
Cusip:	48126NWQ6

© 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.