Published on 10/9/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $987,600 contingent income autocallables linked to indexes
By Angela McDaniels
Tacoma, Wash., Oct. 9 – JPMorgan Chase & Co. priced $987,600 of contingent income autocallable securities due Oct. 11, 2018 linked to the worst performing of the Euro Stoxx 50 index, the MSCI Emerging Markets index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon of 10.5% if each index closes at or above its coupon barrier level, 75% of its initial level, on the determination date for that quarter.
The notes will be called at par of $10 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 any index finishes below its downside threshold level, 55% of its initial level, in which case investors will be fully exposed to the decline of the worst-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
|
| Underlying indexes: | Euro Stoxx 50, MSCI Emerging Markets and Russell 2000
|
| Amount: | $987,600
|
| Maturity: | Oct. 11, 2018
|
| Coupon: | 10.5%, payable quarterly if each index closes at or above coupon barrier level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless any index finishes below downside threshold level, in which case full exposure to decline of worst-performing index
|
| Call: | At par if each index closes at or above initial level on any determination date other than final date
|
| Initial levels: | 1,141.637 for Russell 2000, 3,190.30 for Euro Stoxx 50 and 821.26 for MSCI Emerging Markets
|
| Coupon barriers: | 856.22775 for Russell 2000, 2,392.7925 for Euro Stoxx 50 and 615.945 for MSCI Emerging Markets; 75% of initial levels
|
| Downside thresholds: | 627.90035 for Russell 2000, 1,754.7145 for Euro Stoxx 50 and 451.693 for MSCI Emerging Markets; 55% of initial levels
|
| Pricing date: | Oct. 5
|
| Settlement date: | Oct. 8
|
| Agent: | J.P. Morgan Securities LLC
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 48127Y813
|
© 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.
