Published on 6/3/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $586,000 autocallable contingent interest notes linked to ETF, indexes
By Angela McDaniels
Tacoma, Wash., June 3 – JPMorgan Chase & Co. priced $586,000 of autocallable contingent interest notes due June 1, 2018 linked to the least performing of the Russell 2000 index, the S&P 500 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 6.4% if each underlying component closes at or above its interest barrier level, 70% of its initial level, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if each underlying component closes at or above its initial level on any quarterly review date.
If the notes have not been called, the payout at maturity will be par unless any underlying component finishes below its trigger level, 65% of fits initial level, in which case investors will be fully exposed to the decline of the least-performing underlying component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underliers: | Russell 2000 index, S&P 500 index and iShares MSCI Emerging Markets ETF
|
| Amount: | $586,000
|
| Maturity: | June 1, 2018
|
| Coupon: | Notes pay monthly contingent coupon at annual rate of 6.4% if each underlying component closes at or above barrier level on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any underlying component finishes below trigger value, in which case full exposure to decline of least-performing underlying component
|
| Call: | Automatically at par plus contingent coupon if each underlying component closes at or above initial level on any quarterly review date
|
| Initial levels: | 2,107.39 for S&P 500, 1,246.532 for Russell 2000 and $41.12 for ETF
|
| Interest barriers: | 1,475.173 for S&P 500, 872.5724 for Russell 2000 and $28.784 for ETF; 70% of initial levels
|
| Trigger values: | 1,369.8035 for S&P 500, 810.2458 for Russell 2000 and $26.728 for ETF; 65% of initial levels
|
| Pricing date: | May 29
|
| Settlement date: | June 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.35%
|
| Cusip: | 48125USR4
|
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