Published on 1/22/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $8.57 million 5.25% single observation autocallables linked to ETF, Russell
By Angela McDaniels
Tacoma, Wash., Jan. 22 - JPMorgan Chase & Co. priced $8.57 million of 5.25% single observation autocallable yield notes due July 23, 2015 linked to 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 automatically called at par if the closing level of each underlier is greater than or equal to its initial level on any quarterly call date.
If the notes are not called, the payout at maturity will be par unless the final level of either underlier is less than its initial level by more than 20%, in which case investors will lose 1.25% for every 1% that the lesser-performing underlier declines beyond 20%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Single observation autocallable yield notes
|
| Underliers: | iShares MSCI EAFE ETF and Russell 2000 index
|
| Amount: | $8,565,000
|
| Maturity: | July 23, 2015
|
| Coupon: | 5.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless final level of either underlier is less than initial level by more than buffer amount, in which case 1.25% loss for every 1% that lesser-performing underlier declines beyond 20%
|
| Call: | Automatically at par if each underlier closes at or above its initial level on April 17, 2014, July 18, 2014, Oct. 20, 2014, Jan. 20, 2015 or April 20, 2015
|
| Initial levels: | $66.81 for ETF and 1,168.43 for index
|
| Buffer amounts: | $13.362 for ETF and 233.686 for index, 20% of initial levels
|
| Pricing date: | Jan. 17
|
| Settlement date: | Jan. 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.05%
|
| Cusip: | 48126NY68
|
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