Published on 2/20/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $845,000 autocallable yield notes on two funds, index
By Marisa Wong
Madison, Wis., Feb. 20 – JPMorgan Chase & Co. priced $845,000 of 6% autocallable yield notes due May 23, 2016 linked to the iShares MSCI Emerging Markets exchange-traded fund, the Energy Select Sector SPDR fund 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 quarterly call date.
A trigger event will occur if any component closes below its 60% trigger level 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.
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| Issue: | Autocallable yield notes
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| Underlyings: | iShares MSCI Emerging Markets ETF, Energy Select Sector SPDR fund and Russell 2000 index
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| Amount: | $845,000
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| Maturity: | May 23, 2016
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| Coupon: | 6%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless a trigger event occurs and return of worst performing component is negative, in which case investors will share in losses of worst performing component
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| Trigger event: | Any component closes below its trigger level on any trading day during life of notes
|
| Call: | At par plus accrued interest if each component closes at or above its initial level on any quarterly call date
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| Initial levels: | $40.58 for iShares EM fund, $81.31 for Energy Select fund, 1,227.955 for index
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| Trigger values: | $24.348 for iShares EM fund, $48.786 for Energy Select fund, 736.773 for index; 60% of initial levels
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| Pricing date: | Feb. 18
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| Settlement date: | Feb. 23
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.35%
|
| Cusip: | 48125UCB6
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