Published on 12/4/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $50,000 more contingent coupon callable yield notes on indexes, fund
By Jennifer Chiou
New York, Dec. 4 – JPMorgan Chase & Co. priced another $50,000 of contingent coupon callable yield notes due Nov. 29, 2017 linked to the least performing of the S&P 500 index, the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total amount to $1,558,000.
As reported, the notes will pay a quarterly coupon at an annualized rate of 8% if each underlying component closes at or above its 65% barrier level on the observation date for that quarter.
The notes are callable at par plus the contingent coupon on any interest payment date other than the final date.
The payout at maturity will be par unless either index or the fund finishes below its 65% barrier level, in which case investors will receive par plus the return of the worst-performing component.
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 components: | S&P 500 index, Euro Stoxx 50 index, iShares MSCI Emerging Markets ETF
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| Amount: | $1,558,000 (up from original $1,508,000)
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| Maturity: | Nov. 29, 2017
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| Coupon: | 8% per year, payable quarterly if each component closes at or above its barrier level on the observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any component falls by more than 35%, 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 the final date
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| Barrier levels: | 1,345.1165 for S&P, 2,087.605 for Euro Stoxx, $27.3585 for iShares MSCI EM; 65% of initial levels
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| Pricing date: | Nov. 24 for original $1,508,000; Dec. 2 for $50,000
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| Settlement date: | Nov. 28 for original $1,508,000; Dec. 5 for reopened notes
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48127DT99
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