Published on 1/16/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.7 million callable contingent interest notes linked to indexes, fund
By Susanna Moon
Chicago, Jan. 16 – JPMorgan Chase & Co. priced $3.7 million of callable contingent interest notes due July 21, 2016 linked to the worse performing of the Euro Stoxx 50 index, the Russell 2000 index and the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of at least 9.35% if each underlying component closes at or above the 70% coupon barrier level on a review date for that quarter.
The notes are callable at par on any interest payment date other than the final date.
The payout at maturity will be par unless any component finishes below its 55% trigger level, in which case investors will be fully exposed to any losses of the worst performing component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying components: | Euro Stoxx 50 index, Russell 2000 index and the iShares MSCI Emerging Markets ETF
|
| Amount: | $3.7 million
|
| Maturity: | July 21, 2016
|
| Coupon: | 9.35% per year, payable quarterly if each component closes at or above its barrier level on the observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any component falls below trigger level, in which case full exposure to any losses of worst performing component
|
| Call option: | At par on any interest payment date other than the final date
|
| Coupon barriers: | 2,162.769 for Stoxx, 823.942 for Russell, $27.349 for EM fund; 70% of initial levels
|
| Trigger levels: | 1,699.3185 for Stoxx, 647.383 for Russell, $21.4885 for EM fund; 55% of initial levels
|
| Pricing date: | Jan. 14
|
| Settlement date: | Jan. 20
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.25%
|
| Cusip: | 48127D5T1
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
