Published on 8/29/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.35 million contingent coupon callable yield notes on indexes, fund
By Susanna Moon
Chicago, Aug. 29 - JPMorgan Chase & Co. priced $3.35 million of contingent coupon callable yield notes Aug. 31, 2016 linked to the S&P 500 index, the Russell 2000 index and the and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of at an annual rate of 7.6% if each component closes at or above its barrier level, 65% of the initial level, on the observation date for that quarter.
The notes will be callable at par plus the contingent coupon on any interest payment.
The payout at maturity will be par unless any component finishes at or below its 65% knock-in level, in which case investors will be fully exposed to any losses of the worst performing component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying components: | S&P 500 index, Russell 2000 index and iShares MSCI EAFE ETF
|
| Amount: | $3,347,000
|
| Maturity: | Aug. 31, 2016
|
| Coupon: | 7.6% per year, payable quarterly, if each component closes at or above barrier level on semiannual observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any component finishes at or below knock-in level, in which case par plus return of worst performing component
|
| Call option: | At par plus contingent coupon on any interest payment date
|
| Barrier levels: | 1,059.812 for S&P, 658.7685 for Russell, $39.026 for MSCI EAFE; 65% of initial levels
|
| Pricing date: | Aug. 27
|
| Settlement date: | Aug. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48126NMC8
|
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