Published on 2/22/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.81 million 6.7% callable yield notes tied to indexes
By Devika Patel
Knoxville, Tenn., Feb. 22 – JPMorgan Chase & Co. priced $1.81 million of 6.7% callable yield notes due May 25, 2017 linked to the lesser 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.
Interest is payable monthly.
The notes are callable at par on May 25, 2016, Aug. 25, 2016, Nov. 28, 2016 and Feb. 28, 2017.
The payout at maturity will be par plus the final coupon unless any of the indexes finishes below its initial level and closed below its trigger level, 60% of its initial level, during the life of the notes, in which case investors will be fully exposed to the decline of the worst-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Callable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
|
| Amount: | $1.81 million
|
| Maturity: | May 25, 2017
|
| Coupon: | 6.7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus final interest payment unless any index finishes below its initial level and closed below its trigger level during the life of the notes, in which case investors will be exposed to the decline of the worst-performing index
|
| Call option: | At par on May 25, 2016, Aug. 25, 2016, Nov. 28, 2016 and Feb. 28, 2017
|
| Initial levels: | 1,917.83 for S&P 500, 1,004.706 for Russell 2000 and 2,895.15 for Euro Stoxx 50
|
| Trigger levels: | 1,150.698 for S&P 500, 602.8236 for Russell 2000 and 1,737.09 for Euro Stoxx 50; 60% of initial levels
|
| Pricing date: | Feb. 18
|
| Settlement date: | Feb. 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.475%
|
| Cusip: | 48128GMM9
|
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