Published on 3/27/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $7.56 million contingent income autocallables tied to three indexes
By Jennifer Chiou
New York, March 27 – JPMorgan Chase & Co. priced $7.56 million of contingent income autocallable securities due March 30, 2022 linked to the worst performing of the Euro Stoxx 50 index, the S&P 500 index and the Nikkei 225 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.5% if each index closes at or above its 75% coupon barrier level on the determination date for that quarter.
The notes will be redeemed at par plus the contingent coupon if each index closes at or above its initial level on any determination date other than the final date.
If each index finishes at or above its 63% downside threshold level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses of the worst-performing index.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management as distributor.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Euro Stoxx 50, S&P 500 and Nikkei 225
|
| Amount: | $7.56 million
|
| Maturity: | March 30, 2022
|
| Coupon: | 8.5%, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus final coupon, if any, unless any index finishes below downside threshold level, in which case exposure to decline of worst-performing index
|
| Call: | At par plus contingent payment if each index closes at or above initial level on any quarterly determination date other than final date
|
| Initial levels: | 3,684.04 for Euro Stoxx 50, 2,061.05 for S&P 500 and 19,746.20 for Nikkei 225
|
| Coupon barrier levels: | 2,763.03 for Euro Stoxx 50, 1,545.7875 for S&P 500 and 14,809.65 for Nikkei 225, 75% of initial levels
|
| Downside threshold levels: | 2,320.9452 for Euro Stoxx 50, 1,298.4615 for S&P 500 and 12,440.106 for Nikkei 225, 63% of initial levels
|
| Pricing date: | March 25
|
| Settlement date: | March 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 3.5%
|
| Cusip: | 48125UKM3
|
|
|
© 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.
