Published on 4/29/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.05 million coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, April 29 – JPMorgan Chase & Co. priced $3.05 million of contingent coupon callable yield notes due May 3, 2019 linked to the least performing of the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon of 8.5% unless any index closes below its barrier level, 60% of its initial level, on the observation date for that quarter.
The notes will be callable at par on any interest payment date other than the final one.
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.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
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| Amount: | $3.05 million
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| Maturity: | May 3, 2019
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| Coupon: | 8.5%, payable quarterly if each index closes at or above its barrier level on observation date for quarter
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| Price: | Par
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| Payout at maturity: | If any index finishes below barrier level, par plus return of worst-performing index; otherwise, par
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| Call option: | At par plus coupon on any interest payment date other than final date
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| Initial levels: | 2,091.70 for S&P, 3,121.29 for Stoxx, 1,150.728 for Russell
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| Barrier levels: | 1,255.02 for S&P, 1,872.774 for Stoxx, 690.4368 for Russell; 60% of initial levels
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| Pricing date: | April 26
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| Settlement date: | April 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48128GVL1
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