Published on 3/24/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $763,000 6.2% autocallable yield notes on ETF, indexes
By Angela McDaniels
Tacoma, Wash., March 24 - JPMorgan Chase & Co. priced $763,000 of 6.2% autocallable yield notes due June 25, 2015 linked to the iShares MSCI Emerging Markets exchange-traded fund, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if each underlying component closes at or above its initial level on any quarterly call date.
The payout at maturity will be par unless any underlying component declines by more than 40% during the life of the notes and the final level of any underlying component is less than its initial level, in which case investors will lose 1% for every 1% that the final level of the worst-performing underlying component is less than its initial level
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying components: | iShares MSCI Emerging Markets ETF, Euro Stoxx 50 index and Russell 2000 index
|
| Amount: | $763,000
|
| Maturity: | June 25, 2015
|
| Coupon: | 6.2%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlying component declines by more than buffer amount during life of notes and any underlying component finishes below its initial level, in which case full exposure to losses of worst-performing component
|
| Call: | Automatically at par if each underlying component closes at or above its initial level on June 20, 2014, Sept. 22, 2014, Dec. 22, 2014 or March 20, 2015
|
| Initial levels: | $38.74 for ETF, 3,088.90 for Euro Stoxx 50 and 1,198.9705 for Russell 2000
|
| Buffer amounts: | $15.496 for ETF, 1,235.56 for Euro Stoxx 50 and 479.5882 for Russell 2000, 40% of initial levels
|
| Pricing date: | March 20
|
| Settlement date: | March 25
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.35%
|
| Cusip: | 48127DBP2
|
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