Published on 2/29/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $867,000 high/low yield notes linked to Russell 2000
By Angela McDaniels
Tacoma, Wash., Feb. 29 – JPMorgan Chase & Co. priced $867,000 of high/low yield notes due March 1, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable annually. If the index return on the relevant annual review date is greater than or equal to zero, the coupon for that year will be 5%. If the index return on the review date is less than zero, the coupon for that year will be 3%.
The payout at maturity will be par unless the index declines by more than 15%, in which case investors will lose 1% for every 1% that the index declines beyond 15%.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | High/low yield notes
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Underlying index: | Russell 2000
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Amount: | $867,000
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Maturity: | March 1, 2022
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Coupon: | Payable annually; if index return on relevant annual review date is greater than or equal to zero, coupon for that year will be 5%; if index return on review date is less than zero, coupon for that year will be 3%
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Price: | Par
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Payout at maturity: | Par unless index declines by more than 15%, in which case 1% loss for every 1% that index declines beyond 15%
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Initial level: | 1,022.077
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Pricing date: | Feb. 24
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Settlement date: | Feb. 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.5%
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Cusip: | 48128GLD0
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