Published on 5/16/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.7 million contingent coupon callable yield notes on three indexes
By Jennifer Chiou
New York, May 16 - JPMorgan Chase & Co. priced $5,701,000 of contingent coupon callable yield notes due Nov. 19, 2015 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 9% if each index closes at or above its barrier level, 75% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any index finishes below its barrier level, in which case investors will be fully exposed to the decline of the worst-performing index.
The notes are callable at par plus the contingent coupon, if any, on any interest payment date.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
|
| Amount: | $5,701,000
|
| Maturity: | Nov. 19, 2015
|
| Coupon: | 9% per year, payable quarterly, if each index closes at or above barrier level on quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below knock-in level, in which case full exposure to decline of worst-performing index
|
| Call option: | At par plus contingent coupon, if any, on any interest payment date beginning May 7
|
| Initial index levels: | 1,888.53 for S&P 500, 1,103.139 for Russell 2000 and 3,210.42 for Euro Stoxx 50
|
| Barrier levels: | 1,416.3975 for S&P 500, 827.35425 for Russell 2000 and 2,407.815 for Euro Stoxx 50; 75% of initial levels
|
| Pricing date: | May 14
|
| Settlement date: | May 19
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48127DHY7
|
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