Published on 8/15/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.07 million callable contingent interest notes linked to indexes, fund
By Susanna Moon
Chicago, Aug. 15 – JPMorgan Chase & Co. priced $4.07 million of callable contingent interest notes due May 18, 2016 linked to the worse performing of the S&P 500 index, Euro Stoxx 50 index and iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a coupon at an annual rate of 9% if each underlying component closes at or above the 70% barrier level on a review date for that quarter.
The notes are callable at par on any interest payment date other than final date.
The payout at maturity will be par unless any underlying component finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying components: | S&P 500 index, Euro Stoxx 50 index and iShares cmerging Markets ETF
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| Amount: | $4.07 million
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| Maturity: | Aug. 18, 2016
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| Coupon: | 9% annualized, payable if each component closes at or above trigger level on quarterly review date
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless any component finishes below trigger level, in which case full exposure to any losses of worst performing component
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| Call option: | At par on any interest payment date other than final date
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| Coupon barriers: | 1,362.704 for S&P, 2,139.319 for Euro Stoxx and $31.192 for MSCI EM; 70% of initial levels
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| Trigger levels: | 1,168.032 for S&P, 1,833.702 for Euro Stoxx and $26.736 for MSCI EM; 60% of initial levels
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| Pricing date: | Aug. 13
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| Settlement date: | Aug. 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.25%
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| Cusip: | 48127DWW4
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