By Susanna Moon
Chicago, April 14 – JPMorgan Chase & Co. priced $5.64 million of contingent income autocallable securities due Oct. 16, 2015 linked to the S&P GSCI Crude Oil Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.33% if the index closes at or above the 80% barrier level on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the index closes at or above the 95% redemption level on any determination date other than the final date.
The payout at maturity will be par plus the final coupon unless the index finishes below the 80% barrier level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
Issuer: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying index: | S&P GSCI Crude Oil Index Excess Return
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Amount: | $5,635,000
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Maturity: | Oct. 16, 2015
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Coupon: | 8.33% annualized, payable monthly if index closes at or above barrier level on review date for that month
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Price: | Par
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Payout at maturity: | Par plus coupon unless index finishes below barrier level, in which case full exposure to any losses
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Call: | At par plus coupon if index closes at or 95% redemption threshold on any review date other than final review date
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Initial level: | 266.4461
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Barrier level: | 213.15688, 80% of initial level
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Redemption level: | 253.1238, 95% of initial level
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Pricing date: | April 10
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Settlement date: | April 15
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Agent: | J.P. Morgan Securities LLC
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 0.75%
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Cusip: | 48125UDR0
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