Published on 2/10/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.65 million contingent coupon callable yield notes on three indexes
By Susanna Moon
Chicago, Feb. 10 – JPMorgan Chase & Co. priced $4.65 million of contingent coupon callable yield notes due Aug. 11, 2016 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 of 9% if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes will be callable at par on any interest payment date other than the final date.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
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| Amount: | $4.65 million
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| Maturity: | Aug. 11, 2016
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| Coupon: | 9%, payable quarterly if each index closes at or above its barrier level on observation date for quarter
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| Price: | Par
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| Payout at maturity: | If any index falls below trigger level, par plus return of the worst performing index; otherwise, par
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| Call option: | At par plus coupon on any interest payment date other than the final date
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| Initial levels: | 2,055.47 for S&P, 1,205.464 for Russell and 3,398.16 for Euro Stoxx
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| Barrier levels: | 1,438.829 for S&P, 843.8248 for Russell and 2,378.712 for Euro Stoxx; 70% of initial levels
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| Pricing date: | Feb. 6
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| Settlement date: | Feb. 11
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48125UBW1
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