Published on 9/9/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.59 million autocallable notes on Russell, Euro Stoxx
By Marisa Wong
Morgantown, W.Va., Sept. 9 – JPMorgan Chase & Co. priced $2.59 million of autocallable notes due Sept. 7, 2018 linked to the lesser 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 be called at par plus an annual call premium of 14% if each component closes at or above its call level on any annual call date. The call level will be 95% of the initial level on the first call valuation date and 90% of the initial level on the second and final call valuation dates.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worst performing component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable notes
|
| Underlying indexes: | Russell 2000, Euro Stoxx 50
|
| Amount: | $2,585,000
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| Maturity: | Sept. 7, 2018
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below trigger level, in which case par plus return of worst performing index, with full exposure to losses
|
| Call: | At par plus 14% per year if each index closes at or above its call level on Sept. 12, 2016, Sept. 4, 2017 or Sept. 4, 2018
|
| Initial levels: | 1,145.153 for Russell and 3,270.09 for Euro Stoxx
|
| Trigger levels: | 801.6071 for Russell and 2,289.063 for Euro Stoxx; 70% of initial levels
|
| Call levels: | 95% of the initial level on the first call valuation date, 90% of the initial level on the second and final call valuation dates
|
| Pricing date: | Sept. 3
|
| Settlement date: | Sept. 9
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.25%
|
| Cusip: | 48125U3U4
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