By Angela McDaniels
Tacoma, Wash., March 31 – JPMorgan Chase & Co. priced $83,000 of trigger phoenix autocallable optimization securities due March 31, 2020 linked to the common stock of Symantec Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If Symantec stock closes at or above the trigger price, 67% of the initial share price, on a monthly observation date, the issuer will pay a contingent coupon for that month at the rate of 7% per year. Otherwise, no coupon will be paid that month.
Beginning March 28, 2016, the notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on a monthly observation date.
If the notes are not called and Symantec shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying stock: | Symantec Corp. (Symbol: SYMC)
|
| Amount: | $83,000
|
| Maturity: | March 31, 2020
|
| Coupon: | 7% per year, payable monthly if stock closes at or above trigger price on observation date for that month
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if Symantec shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if Symantec shares close at or above initial price on any monthly observation date from March 28, 2016 onward
|
| Initial share price: | $23.355
|
| Trigger price: | $15.648, 67% of initial share price
|
| Pricing date: | March 27
|
| Settlement date: | March 31
|
| Underwriters: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 48127T665
|
© 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.
