Published on 9/3/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.33 million contingent coupon callable yield notes on three indexes
By Jennifer Chiou
New York, Sept. 3 - JPMorgan Chase & Co. priced $4,325,000 of contingent coupon callable yield notes March 4, 2016 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of at an annualized rate of 8% if each index 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 either index finishes at or below its 65% knock-in level, in which case investors will be fully exposed to any losses of the worst performing index.
J.P. Morgan Securities LLC is the placement agent.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Contingent coupon callable yield notes
|
Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
|
Amount: | $4,325,000
|
Maturity: | March 4, 2016
|
Coupon: | 8% per year, payable quarterly, if each index closes at or above barrier level on quarterly observation date
|
Price: | Par
|
Payout at maturity: | Par unless either index finishes at or below knock-in level, in which case par plus return of worst performing index
|
Call option: | At par plus contingent coupon on any interest payment date
|
Initial index levels: | 1,638.17 for S&P, 1,026.94 for Russell, 2,758.31 for Stoxx
|
Barrier levels: | 1,064.8105 for S&P, 667.511 for Russell, 1,792.9015 for Stoxx; 65% of initial levels
|
Pricing date: | Aug. 29
|
Settlement date: | Sept. 4
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 1.8%
|
Cusip: | 48126NQJ9
|
© 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.