Published on 3/30/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $80,000 callable contingent interest notes on indexes
By Wendy Van Sickle
Columbus, Ohio, March 30 – JPMorgan Chase & Co. priced $80,000 of callable contingent interest notes due March 31, 2021 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.
The notes will pay a contingent quarterly coupon an annual rate of 8% if each index closes at or above its interest barrier level, 75% of its initial level, on the review date for that quarter.
The notes may be called at par plus the contingent coupon on any interest payment date other than the first, second, third and final dates.
The payout at maturity will be par unless either index closes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
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 indexes: | S&P 500 and Russell 2000
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| Amount: | $80,000
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| Maturity: | March 31, 2021
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| Coupon: | 8% a year, payable quarterly if each index closes above interest barrier level on observation date
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| Price: | Par
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| Call: | At par plus contingent coupon on any interest payment date other than first, second, third and final dates
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| Payout at maturity: | Par unless either index closes below trigger level, in which case full exposure to loss of worse performing index
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| Initial levels: | 2,037.05 for S&P, 1,080.231 for Russell
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| Interest barrier levels: | 1,527.7875 for S&P, 810.17325 for Russell, 75% of initial level
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| Trigger levels: | 1,222.23 for S&P, 648.1386 for Russell, 60% of initial level
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| Pricing date: | March 28
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| Settlement date: | March 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
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| Cusip: | 48128GQX1
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