By Toni Weeks
San Luis Obispo, Calif., March 27 - JPMorgan Chase & Co. priced $1.24 million of callable range accrual notes due March 28, 2029 linked to six-month Libor and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 8.15% for each day that the index closes at or above the 70% minimum index level and six-month Libor is 6.5% or less. Interest is payable quarterly.
The payout at maturity will be par if the index finishes at or above the 60% barrier level.
Otherwise, investors will be fully exposed to the index decline.
The notes are callable at par on any quarterly call date beginning March 28, 2015.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Callable range accrual notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $1,242,000
|
| Maturity: | March 28, 2029
|
| Coupon: | 8.15% for each day that six-month Libor is 6.5% or less and index is at or above minimum index level
|
| Price: | Par
|
| Payout at maturity: | Par if index falls by up to barrier level; otherwise, full exposure to losses
|
| Call option: | At par on any quarterly date beginning March 28, 2015
|
| Initial level: | 3,096.64
|
| Minimum index level: | 70% of initial level
|
| Barrier level: | 1,857.984, 60% of initial level
|
| Pricing date: | March 25
|
| Settlement date: | March 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.25%
|
| Cusip: | 48126N5R4
|
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