Published on 6/27/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $13.63 million contingent absolute return notes linked to Euro Stoxx 50
By Susanna Moon
Chicago, June 27 – JPMorgan Chase & Co. priced $13.63 million of 0% contingent absolute return performance securities due June 30, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the initial level, payout at maturity will be par plus 1.4 times the gain.
If the index falls but finishes at or above the 65% trigger level, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
Issuer: | JPMorgan Chase & Co.
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Issue: | Contingent absolute return performance securities
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Underlying index: | Euro Stoxx 50
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Amount: | $13,631,000
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Maturity: | June 30, 2020
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | If index gains, par plus 140% of return; if index falls by up to trigger level, par plus absolute value of return; otherwise, full exposure to any losses
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Initial level: | 3,284.81
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Trigger level: | 2,135.13, or 65% of initial level
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Pricing date: | June 24
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Settlement date: | June 27
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Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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Fees: | 3.5%
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Cusip: | 481246882
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