Published on 3/30/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.45 million callable contingent interest notes tied to indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, March 30 – JPMorgan Chase & Co. priced $2.45 million of callable contingent interest notes due Oct. 7, 2019 linked to the least performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon an annual rate of 9.55% if each underlying asset closes at or above its interest barrier level, 70% of its initial level, on the review date for that quarter.
The notes may be called at par plus the contingent coupon on any interest payment date other than the first and final dates.
The payout at maturity will be par unless any asset closes below its 55% trigger level, in which case investors will be fully exposed to any losses of the worst-performing asset.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
|
|
| Underlying assets: | S&P 500, Russell 2000 and iShares MSCI EAFE ETF
|
| Amount: | $2,453,000
|
| Maturity: | Oct. 7, 2019
|
| Coupon: | 9.55% a year, payable quarterly if each asset closes above interest barrier level on observation date
|
| Price: | Par
|
| Call: | At par plus contingent coupon on any interest payment date other than first and final dates
|
| Payout at maturity: | Par unless any underlying asset closes below trigger level, in which case full exposure to loss of worse performing asset
|
| Initial levels: | 2,037.05 for S&P, 1,080.231 for Russell, $56.69 for iShares MSCI EAFE ETF
|
| Interest barrier levels: | 1,425.935 for S&P, 756.1617 for Russell, $39.683 for iShares MSCI EAFE ETF,
|
| 70% of initial levels
|
| Trigger levels: | 1,120.3775 for S&P, 594.12705 for Russell, $31.1795 for iShares MSCI EAFE ETF, 55% of initial level
|
| Pricing date: | March 28
|
| Settlement date: | March 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 48128GRS1
|
|
|
© 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.
