Published on 11/14/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $100,000 autocallable contingent interest notes on indexes
By Jennifer Chiou
New York, Nov. 14 – JPMorgan Chase & Co. priced $100,000 of autocallable contingent interest notes due Nov. 17, 2015 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a coupon at an annual rate of 7.25% if each index closes at or above the 70% barrier level on a review date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any interest payment date other than final date.
The payout at maturity will be par unless either index finishes below its 70% barrier 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 and Russell 2000
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Amount: | $100,000
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Maturity: | Nov. 17, 2015
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Coupon: | 7.25% annualized, payable if each index closes at or above coupon barrier level on quarterly review date
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Price: | Par
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Payout at maturity: | Par unless either index finishes below trigger level, in which case full exposure to any losses of worst-performing index
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Call: | At par if each index closes at or above initial level on any interest payment date other than final date
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Initial levels: | 2,038.25 for S&P, 1,186.467 for Russell
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Barrier levels: | 1,426.775 for S&P, 830.5269 for Russell; 70% of initial levels
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Pricing date: | Nov. 12
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Settlement date: | Nov. 17
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.65%
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Cusip: | 48127DU55
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