By Marisa Wong
Madison, Wis., May 21 - JPMorgan Chase & Co. priced $6.16 million of autocallable contingent interest notes due May 23, 2016 linked to the worse performing of the S&P 500 index and the Vanguard Total Stock Market index fund, according to a 424B2 filing with the Securities and Exchange Commission.
If each component closes at or above its 70% barrier level on an annual review date, the notes will pay a contingent coupon of 5%.
The notes will be called at par plus the contingent coupon if each component closes above its initial level on any review date other than the final review date.
The payout at maturity will be par plus the contingent coupon, if any, unless either component finishes below the 65% trigger level, in which case the payout will be par plus the return of the worse performing component with full exposure to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Single observation callable yield notes
|
| Underlying components: | S&P 500 index and Vanguard Total Stock Market index fund
|
| Amount: | $6.16 million
|
| Maturity: | May 23, 2016
|
| Coupon: | 5%, payable annually if each component closes at or above its 70% barrier level on an annual review date
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon, if any, unless either component finishes below 65% trigger level, in which case par plus return of worse performing component with full exposure to any losses
|
| Call option: | At par plus contingent coupon if each component closes above its initial level on any review date other than final review date
|
| Initial levels: | 1,667.47 for index and $86.08 for fund
|
| Pricing date: | May 17
|
| Settlement date: | May 22
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.25%, all for selling concessions
|
| Cusip: | 48126D5K1
|
© 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.
