Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for SPDR S&P Bank exchange-traded fund > News item |
JPMorgan plans contingent coupon autocallables tied to three ETFs
By Marisa Wong
Morgantown, W.Va., Sept. 15 – JPMorgan Chase Financial Co. LLC plans to price contingent coupon autocallable yield notes due Sept. 20, 2018 linked to the worst performing of the iShares Nasdaq Biotechnology exchange-traded fund, the SPDR S&P Bank ETF and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes pay a contingent coupon at an annualized rate of at least 14% if the worst performing fund closes at or above the coupon barrier price, 75% of the initial price, on the observation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each fund closes at or above the initial share price on any quarterly valuation date other than the final one.
If the final share price of the worst performing fund is greater than or equal to the 75% trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline of the worst performing fund.
J.P. Morgan Securities LLC is the agent.
The notes will price Sept. 16.
The Cusip number is 46646EA85.
© 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.