By Jennifer Chiou
New York, Oct. 15 - JPMorgan Chase & Co. priced $7 million of 5.15% single observation autocallable yield notes due Oct. 16, 2014 linked to the lesser performing of the iShares MSCI EAFE exchange-traded 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 automatically at par plus accrued interest if both components close at or above their initial levels on any of three quarterly call dates.
A trigger event will occur if either component finishes below the trigger level, 80% of the initial level, on Oct. 10, 2014.
If the notes are not called, the payout at maturity will be par if a trigger event has not occurred. If a trigger event has occurred, investors will share in losses at a rate of 1.25% per 1% drop beyond the buffer.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying components: iShares MSCI EAFE ETF and Russell 2000
|
| Amount: | $7 million
|
| Maturity: | Oct. 16, 2014
|
| Coupon: | 5.15%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless lesser-performing component finishes below the trigger level, in which case exposure to losses at rate of 1.25% per 1% drop beyond the buffer
|
| Call: | At par if both underlying components close at or above initial levels on any quarterly call date; first call date is Jan. 13
|
| Initial levels: | $62.71 for iShares EAFE, 1,047.26 for Russell
|
| Buffer amount: | $12.542 for iShares EAFE, 209.452 for Russell, 20% of initial levels
|
| Pricing date: | Oct. 11
|
| Settlement date: | Oct. 16
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.05%
|
| Cusip: | 48126NXJ1
|
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