By Susanna Moon
Chicago, April 29 - JPMorgan Chase & Co. priced $896,000 of 0% autocallable contingent interest notes due April 30, 2015 linked to the least performing of the Russell 2000 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly interest at an annual rate of 6.5% if each component closes at or above its 70% barrier level on the review date for that quarter.
The notes will be called at par plus the contingent interest payment if each component closes at or above its initial level on any quarterly review date other than the final review date.
A trigger event occurs if any component closes below its barrier level on any day during the life of the notes.
If the final level of each component is greater than or equal to its initial index level or a trigger event has not occurred, the payout at maturity will be par plus the contingent interest payment.
Otherwise, 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: | Autocallable contingent interest notes
|
| Underlying: | Russell 2000 index and iShares MSCI Emerging Markets ETF
|
| Amount: | $896,000
|
| Maturity: | April 30, 2015
|
| Coupon: | 6.5% per year, payable quarterly if component closes at or above barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each component finishes at or above initial index level or trigger event has not occurred, par plus contingent interest payment; otherwise, full exposure to any losses of worst performing component
|
| Trigger event: | If any component closes below barrier level on any day during life of notes
|
| Call: | At par plus contingent payment if each component closes at or above initial level on any quarterly review date other than final review date
|
| Barrier levels: | 786.121 for Russell, $28.574 for EM fund; 70% of initial levels
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.64%
|
| Cusip: | 48127DDH8
|
© 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.
