Published on 12/17/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.73 million contingent coupon callable yield notes on indexes, ETF
By Marisa Wong
Morgantown, W.Va., Dec. 17 – JPMorgan Chase & Co. priced $2.73 million of contingent coupon callable yield notes due June 22, 2018 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 9.75% per year if each underlying index closes at or above its barrier level, 65% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any index finishes below its barrier level, in which case investors will be fully exposed to the decline of the least-performing index.
The notes are callable at par on any interest payment date other than the final one.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
|
| Amount: | $2,725,000
|
| Maturity: | June 22, 2018
|
| Coupon: | 9.75% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below barrier level, in which case full exposure to decline of least-performing index
|
| Call option: | At par on any interest payment date other than final one
|
| Initial levels: | 2,043.41 for S&P 500, 1,131.552 for Russell 2000 and 3,241.51 for Euro Stoxx
|
| Barrier levels: | 1,328.2165 for the S&P 500, 735.5088 for Russell and 2,106.9815 for Euro Stoxx; 65% of initial levels
|
| Pricing date: | Dec. 15
|
| Settlement date: | Dec. 18
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48128GFY1
|
|
|
© 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.
