Published on 8/24/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.18 million 6% autocallable yield notes linked to materials ETF, indexes
By Angela McDaniels
Tacoma, Wash., Aug. 24 – JPMorgan Chase & Co. priced $1.18 million of 6% autocallable yield notes due Nov. 25, 2016 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the Materials Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each underlying component closes at or above its initial level on Nov. 20, 2015, Feb. 22, 2016, May, 20, 2016 or Aug. 22, 2016.
The payout at maturity will be par unless any underlying component closes below its trigger level, 67% of its initial level, on any day during the life of the notes and any underlying component finishes below its initial level, in which case investors will be fully exposed to the decline of the worst-performing underlying component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying components: | Euro Stoxx 50 index, Russell 2000 index and Materials Select Sector SPDR Fund
|
| Amount: | $1,184,000
|
| Maturity: | Nov. 25, 2016
|
| Coupon: | 6%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlying component closes below trigger level on any day during life of notes and any underlying component finishes below initial level, in which case full exposure to decline of worst-performing underlying component
|
| Call: | Automatically at par if each underlying component closes at or above initial level on Nov. 20, 2015, Feb. 22, 2016, May, 20, 2016 or Aug. 22, 2016
|
| Initial levels: | 3,353.48 for Euro Stoxx 50, 1,172.533 for Russell 2000 and $44.27 for materials fund
|
| Trigger values: | 2,246.8316 for Euro Stoxx 50, 785.59711 for Russell 2000 and $29.6609 for materials fund; 67% of initial levels
|
| Pricing date: | Aug. 20
|
| Settlement date: | Aug. 25
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.35%
|
| Cusip: | 48125UK43
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
