Published on 4/21/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $9.12 million contingent income autocallables tied to two indexes
By Susanna Moon
Chicago, April 21 – JPMorgan Chase & Co. priced $9.12 million of contingent income autocallable securities due April 20, 2018 linked to the worst performing of 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 8.55% if each index closes at or above its 75% barrier level on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above the initial level on any determination date other than the final date.
The payout at maturity will be par unless either index finishes below its 75% 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 with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Russell 2000, Euro Stoxx 50
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| Amount: | $9,121,000
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| Maturity: | April 20, 2018
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| Coupon: | 8.55% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par unless either index finishes below trigger level, in which case exposure to decline of worst performing index
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| Call: | At par plus contingent payment if each index closes at or above initial level on any quarterly determination date other than final date
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| Initial levels: | 1,251.858 for Russell, 3,674.05 for Euro Stoxx
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| Barrier levels: | 938.8935 for Russell, 2,755.5375 for Euro Stoxx; 75% of initial levels
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| Pricing date: | April 17
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| Settlement date: | April 22
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| Agent: | J.P. Morgan Securities LLC
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 2%
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| Cusip: | 48127T517
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