Published on 1/21/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.26 million contingent income autocallables on S&P 500, Russell
By Susanna Moon
Chicago, Jan. 21 – JPMorgan Chase & Co. priced $5.26 million of contingent income autocallable securities due Jan. 21, 2021 linked to the worse performing of the S&P 500 index and the Russell 2000 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 7.25% if each index closes at or above its barrier level, 60% of its initial index level, on the determination date for that quarter.
The notes will be called at par if each index closes at or above its 105% call level on any quarterly determination date other than the first and final determination dates.
The payout at maturity will be par plus the final contingent coupon unless either index finishes below the 60% barrier level, in which case investors will be fully exposed to any losses of the worst performing index.
J.P. Morgan Securities LLC is the agent with distribution through Morgan Stanley Smith Barney LLC.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $5,263,000
|
| Maturity: | Jan. 21, 2021
|
| Coupon: | 7.25% per year, payable quarterly if each index closes at or above its barrier level on determination date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | If each index finishes at or above barrier level, par plus final contingent coupon; otherwise, full exposure to any losses of worst performing index
|
| Call: | At par if each index closes at or above its call level on any quarterly determination date other than first and final determination dates
|
| Initial levels: | 1,880.33 for S&P and 1,007.725 for Russell
|
| Barrier levels: | 1,128.198 for S&P and 604.635 for Russell; 60% of initial levels
|
| Call levels: | 1,974.3465 for S&P and 1,058.11125 for Russell; 105% of its initial index levels
|
| Pricing date: | Jan. 15
|
| Settlement date: | Jan. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 48128A459
|
|
|
|
|
© 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.
