Published on 1/29/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.48 million contingent coupon callable yield notes on indexes, ETF
By Marisa Wong
Morgantown, W.Va., Jan. 29 – JPMorgan Chase & Co. priced $1.48 million of contingent coupon callable yield notes due Feb. 4, 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.
Each quarter, the notes will pay a contingent coupon at the rate of 9.3% per year if each underlying component closes at or above its barrier level, 60% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any component finishes below its barrier level, in which case investors will be fully exposed to the decline of the least-performing underlying.
The notes are callable at par on any interest payment date other than the first and final payment dates.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent coupon callable yield notes
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| Underlying components: | S&P 500 index, Russell 2000 index and iShares MSCI EAFE ETF
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| Amount: | $1.48 million
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| Maturity: | Feb. 4, 2019
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| Coupon: | 9.3% per year, payable quarterly if each underlying closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlying finishes below barrier level, in which case full exposure to decline of least-performing component
|
| Call option: | At par on any interest payment date other than first and final ones
|
| Initial levels: | 1,903.63 for S&P 500, 1,017.974 for Russell 2000 and $54.71 for ETF
|
| Barrier levels: | 1,142.178 for S&P 500, 610.7844 for Russell 2000 and $32.826 for ETF; 60% of initial levels
|
| Pricing date: | Jan. 26
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| Settlement date: | Jan. 29
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48128GJF8
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