Published on 7/8/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.78 million contingent interest autocallables linked to three indexes
By Susanna Moon
Chicago, July 8 – JPMorgan Chase & Co. priced $1.78 million of autocallable contingent interest notes due July 11, 2018 linked to the worst performing of the Russell 2000 index, the S&P 500 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 9.25% if each index closes at or above its coupon barrier level, 65% of its initial level, on the review date for that quarter.
The payout at maturity will be par unless any index finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes will be called at par if the index closes above its initial level on any review date other than the final review date.
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: | Russell 2000, S&P 500 and Euro Stoxx 50
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| Amount: | $1,778,000
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| Maturity: | July 11, 2018
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| Coupon: | 9.25% per year, payable each quarter that each underlying index closes at or above coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any index finishes below trigger level, in which case full exposure to any losses of worst performing index
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| Call: | At par plus contingent coupon if index closes above its initial level on any review date other than the final review date
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| Initial levels: | 2,068.76 for S&P, 1,246.959 for Russell and 3,365.20 for Stoxx
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| Barrier levels: | 65% of initial levels
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| Pricing date: | July 6
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| Settlement date: | July 9
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48125UZK1
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