Published on 9/9/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.83 million contingent income autocallables on indexes
By Marisa Wong
Morgantown, W.Va., Sept. 9 – JPMorgan Chase & Co. priced $2.83 million of contingent income autocallable securities due Sept. 7, 2018 linked to the worst performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent annual coupon of 9.5% if each index closes at or above its downside threshold level, 70% of its initial level, on the determination date for that year.
The notes will be called at par if each index closes at or above its initial level on any determination date other than the final determination date.
The payout at maturity will be par unless either index finishes below its downside threshold level, in which case investors will be fully exposed to any losses of the worse performing index.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
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| Underlying indexes: | S&P 500, Euro Stoxx 50
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| Amount: | $2,825,000
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| Maturity: | Sept. 7, 2018
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| Coupon: | 9.5%, payable annually if each index closes at or above downside threshold level on observation date for that year
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either index finishes below downside threshold level, in which case full exposure to any losses of worse performing index
|
| Call: | At par if each index closes at or above initial level on any annual determination date other than final date
|
| Initial levels: | 1,951.13 for S&P, 3,270.09 for Euro Stoxx
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| Downside thresholds: | 1,365.791 for S&P, 2,289.063 for Euro Stoxx; 70% of initial levels
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| Pricing date: | Sept. 3
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| Settlement date: | Sept. 9
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| Agent: | J.P. Morgan Securities LLC
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 1.4%
|
| Cusip: | 48127V215
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