By Toni Weeks
San Luis Obispo, Calif., June 27 – JPMorgan Chase & Co. priced $3.75 million of autocallable contingent interest notes due June 30, 2015 linked to the Russell 2000 index and the iShares MSCI Brazil Capped exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying component closes at or above the 70% barrier level on a quarterly review date, the notes will pay a coupon at an annualized rate of 8.25% for that interest period.
If each component closes at or above its initial level on any review date other than the final review date, the notes will be called at par plus the coupon.
A trigger event occurs if either underlying component closes below the 70% trigger level during the life of the notes.
If the notes are not called and each component finishes at or above its initial level or a trigger event has not occurred, the payout at maturity will be par plus the contingent coupon.
If either underlying component finishes below its initial level and a trigger event has occurred, investors will lose 1% for every 1% decline in the lesser-performing underlying component from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying components: | Russell 2000, iShares MSCI Brazil Capped ETF
|
| Amount: | $3,748,000
|
| Maturity: | June 30, 2015
|
| Coupon: | 8.25% per year, payable quarterly if each underlying component closes at or above barrier level on a semiannual review date
|
| Price: | Par
|
| Payout at maturity: | If each component finishes at or above initial level or trigger event has not occurred, par plus the contingent coupon; if either component finishes below its initial level and a trigger event has occurred, 1% loss for every 1% decline in the lesser-performing underlying component from its initial level
|
| Trigger event: | Occurs if either component closes below trigger level during life of notes
|
| Call: | At par plus coupon if each component closes at or above its initial level on any review date other than final review date
|
| Initial levels: | 1,182.679 for index, $48.18 for fund
|
| Barrier/trigger levels: | 827.8753 for index, $33.726 for fund; 70% of initial levels
|
| Pricing date: | June 25
|
| Settlement date: | June 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5577%
|
| Cusip: | 48127DLB2
|
© 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.
