Published on 4/29/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.39 million contingent coupon callable yield notes linked to basket
By Toni Weeks
San Luis Obispo, Calif., April 29– JPMorgan Chase & Co. priced $2.39 million of contingent coupon callable yield notes due Nov. 1, 2016 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10.25% per year if each underlying component 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 underlying component finishes below its barrier level, in which case investors will be fully exposed to the decline of the least-performing underlying component.
The notes are callable at par on any interest payment date other than the final one.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent coupon callable yield notes
|
| Underlyings: | Euro Stoxx 50 index, Russell 2000 index and iShares MSCI EAFE ETF
|
| Amount: | $2,392,000
|
| Maturity: | Nov. 1, 2016
|
| Coupon: | 10.25% per year, payable quarterly if each underlying component closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlying component finishes below barrier level, in which case full exposure to decline of least-performing underlying component
|
| Call option: | At par on any interest payment date other than final one
|
| Initial levels: | 3,771.45 for Euro Stoxx 50, 1,252.7 for Russell 2000 and $67.75 for ETF
|
| Barrier levels: | 2,828.5875 for Euro Stoxx 50, 939.525 for Russell 2000 and $50.8125 for ETF; 75% of initial levels
|
| Pricing date: | April 27
|
| Settlement date: | April 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48125UMK5
|
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