New Issue: JPMorgan prices $3.17 million 9.75% callable yield notes linked to S&P, Russell

By Angela McDaniels

Tacoma, Wash., Feb. 29 – JPMorgan Chase & Co. priced $3.17 million of 9.75% callable yield notes due March 3, 2017 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes are callable at par on June 1, 2016, Aug. 31, 2016 and Dec. 2, 2016.

If the notes are not called, the payout at maturity will be par unless either index finishes below its initial level and either index closes below its trigger value, 70% of its initial level, on any day during the life of the notes, in which case investors will be fully exposed to the decline of the lesser-performing index.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Callable yield notes
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$3,174,000
Maturity:	March 3, 2017
Coupon:	9.75%, payable monthly
Price:	Par
Payout at maturity:	If notes are not called, par unless either index finishes below initial level and either index closes below trigger value on any day during life of notes, in which case full exposure to decline of lesser-performing index
Call option:	At par on June 1, 2016, Aug. 31, 2016 and Dec. 2, 2016
Initial index levels:	1,929.80 for S&P 500 and 1,022.077 for Russell 2000
Trigger values:	1,350.86 for S&P 500 and 715.4539 for Russell 2000; 70% of initial levels
Pricing date:	Feb. 24
Settlement date:	Feb. 29
Agent:	J.P. Morgan Securities LLC
Fees:	0.33338%
Cusip:	48128GLR9

© 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.