Published on 8/1/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.04 million autocallable contingent interest notes on indexes
By Susanna Moon
Chicago, Aug. 1 – JPMorgan Chase & Co. priced $3.04 million of autocallable contingent interest notes due Aug 1, 2019 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.6% if any underlying index closes at or above the 75% barrier level on a review date for that quarter.
The notes will be called at par plus the coupon if any index closes at or above its initial level on any review date other than the final review date.
The payout at maturity will be par plus the contingent coupon unless any index finishes below its trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
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| Amount: | $3,038,000
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| Maturity: | Aug. 1, 2019
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| Coupon: | 8.6% per year, payable quarterly if each underlying component closes at or above barrier level on quarterly review date
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| Price: | Par
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| Payout at maturity: | Par plus the contingent coupon unless any index finishes below its trigger level, in which case full exposure to any losses of worst performing index
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| Call: | At par plus coupon if each index closes at or above its initial level on any review date other than final review date
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| Initial levels: | 1,969.95 for S&P, 1,141.643 for Russell, 3,190.54 for Euro Stoxx
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| Barrier levels: | 75% of initial levels
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| Pricing date: | July 29
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| Settlement date: | July 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48127DUC0
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