Published on 6/23/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.05 million 6% autocallable yield notes on fund, two indexes
By Marisa Wong
Madison, Wis., June 23 – JPMorgan Chase & Co. priced $1.05 million of 6% autocallable yield notes due Sept. 24, 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 monthly.
The notes will be called at par plus accrued interest if each component closes at or above its initial level on any of four quarterly call dates.
A trigger event will occur if any component closes below its initial level by more than the 30% buffer amount on any trading day during the life of the notes.
The payout at maturity will be par unless a trigger event occurs and the return of the worst-performing component is negative, in which case investors will share in losses of the worst-performing component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
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| Underlying components: | iShares MSCI Emerging Markets ETF, Euro Stoxx 50 and Russell 2000 index
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| Amount: | $1,052,000
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| Maturity: | Sept. 24, 2015
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| Coupon: | 6%, payable monthly
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless any component falls below its initial level by more than buffer amount on any trading day during life of notes and return of worst-performing component is negative, in which case full exposure to losses of worst-performing component
|
| Call: | At par plus accrued interest if each component closes at or above its initial level on any of four quarterly call dates
|
| Initial levels: | $43.65 for EM fund, 3,314.80 for Euro Stoxx, 1,184.033 for Russell
|
| Buffer amounts: | $13.095 for EM fund, 994.44 for Euro Stoxx, 355.2099 for Russell; 30% of initial levels
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| Pricing date: | June 19
|
| Settlement date: | June 24
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.35%
|
| Cusip: | 48127DMF2
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