Published on 3/8/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.68 million callable contingent interest notes linked to three indexes
By Angela McDaniels
Tacoma, Wash., March 8 – JPMorgan Chase & Co. priced $1.68 million of callable contingent interest notes due March 8, 2018 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 14.96% if each index closes at or above its trigger value, 75% of its initial level, on the review date for that quarter.
The notes are callable at par plus the contingent coupon on any interest payment date other than the final interest payment date.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its trigger value, 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.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
|
| Amount: | $1.68 million
|
| Maturity: | March 8, 2087
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| Coupon: | Notes pay quarterly contingent coupon at annual rate of 14.96% if each underlying index closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any index finishes below trigger value, in which case full exposure to decline of least-performing index
|
| Call: | Callable at par plus contingent coupon on any interest payment date other than final one
|
| Initial levels: | 1,999.99 for S&P 500, 1,081.935 for Russell 2000 and 3,037.35 for Euro Stoxx 50
|
| Final index levels: | For each index, average of its closing levels on five trading days ending March 5, 2018
|
| Barrier levels: | 1,499.9925 for S&P 500, 811.45125 for Russell 2000 and 2,278.0125 for Euro Stoxx 50; 75% of initial levels
|
| Pricing date: | March 4
|
| Settlement date: | March 9
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48128GQZ6
|
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