By Marisa Wong
Madison, Wis., Dec. 5 – JPMorgan Chase & Co. priced $8.58 million of contingent income autocallable securities due Dec. 3, 2015 linked to Yahoo! Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly payment of 3.2625% if the stock closes at or above its 75% barrier level on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 75% trigger level, in which case investors will receive a number of shares of Yahoo! stock equal to $10 divided by the initial share price or the cash value of those shares.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC handling distribution.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Yahoo! Inc. (Symbol: YHOO)
|
| Amount: | $8,582,780
|
| Maturity: | Dec. 3, 2015
|
| Contingent coupon: | 3.2625% for each quarter that Yahoo! stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold level, par plus contingent payment; otherwise, 0.19327 Yahoo! shares or their cash value
|
| Call: | At par plus contingent payment if stock closes at or above initial level on any quarterly determination date other than final one
|
| Initial share price: | $51.74
|
| Downside threshold: | $38.805, 75% of initial share price
|
| Pricing date: | Nov. 28
|
| Settlement date: | Dec. 3
|
| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Smith Barney LLC handling distribution
|
| Fees: | 1.75% (1.25% selling commission and 0.5% structuring fee)
|
| Cusip: | 48127P671
|
|
|
© 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.
