By Susanna Moon
Chicago, July 30 – JPMorgan Chase & Co. priced $5.75 million of 9.3% autocallable reverse exchangeable notes due Feb. 2, 2017 linked to the least performing of the common stocks of MetLife, Inc., Aetna Inc., UnitedHealth Group Inc. and Prudential Financial, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each stock closes at or above the initial share price on any quarterly review date other than the final review date.
The payout at maturity will be par unless any stock finishes below the trigger level, 70% of the initial price, in which case the payout will be a number of shares of the worst performing stock equal to $1,000 divided by the initial share price or, at the issuer’s election, the cash equivalent.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Autocallable reverse exchangeable notes
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Underlying stocks: | MetLife, Inc., Aetna Inc., UnitedHealth Group Inc. and Prudential Financial, Inc.
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Amount: | $5.75 million
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Maturity: | Feb. 2, 2017
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Coupon: | 9.3%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below its trigger level, in which case a number of shares of worst performing stock equal to $1,000 divided by initial share price
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Call: | At par if each stock closes at or above initial share price on any quarterly review date other than final review date
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Trigger levels: | 70% of initial levels
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Pricing date: | July 28
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Settlement date: | July 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.75%
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Cusip: | 46625HMP2
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