Published on 12/30/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.02 million contingent coupon callable yield notes on indexes, fund
By Jennifer Chiou
New York, Dec. 26 - JPMorgan Chase & Co. priced $2.02 million of contingent coupon callable yield notes due Dec. 27, 2016 linked to the Euro Stoxx 50 index, Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.15% if each component closes at or above its 65% coupon barrier level on a quarterly observation date.
The payout at maturity will be par unless any component finishes below its knock-in level, 65% of its initial level, in which case investors will receive par plus the return of the lowest-performing component.
The notes will be callable at par on any interest payment date other than the final date.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying components: Euro Stoxx 50 index, Russell 2000 index and iShares MSCI EAFE ETF
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| Amount: | $2.02 million
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| Maturity: | Dec. 27, 2016
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| Coupon: | 8.15% per year, payable quarterly if each underlying component closes at or above barrier level on quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any component finishes below knock-in level, in which case full exposure to decline of worst-performing component
|
| Call option: | At par plus contingent coupon, if any, on any interest payment date other than final date
|
| Initial levels: | 3,049.35 for Euro Stoxx 50, 1,146.47 for Russell and $65.08 for ETF
|
| Barrier levels: | 65% of initial levels
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48126NG92
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