Published on 12/23/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $21.75 million autocallable trigger PLUS linked to S&P, Euro Stoxx
By Angela McDaniels
Tacoma, Wash., Dec. 23 – JPMorgan Chase & Co. priced $21.75 million of 0% autocallable trigger Performance Leveraged Upside Securities due Dec. 27, 2018 linked to an equally weighted basket of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will be called at $12.70 per $10.00 principal amount if the basket closes at or above the call threshold level, 127% of the initial basket level, on June 21, 2017.
If the notes are not called, the payout at maturity will be par of $10 plus 150% of any basket gain. Investors will receive par if the basket falls by 15% or less and will be fully exposed to the decline if the basket finishes below the 85% trigger level.
J.P. Morgan Securities LLC is the agent with distribution through Morgan Stanley Wealth Management.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable trigger Performance Leveraged Upside Securities
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| Underlying indexes: | S&P 500 and Euro Stoxx 50, equally weighted
|
| Amount: | $21.75 million
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| Maturity: | Dec. 27, 2018
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If notes are not called and final basket level is greater than initial basket level, par plus 150% of basket return; if basket falls by 15% or less, par; if basket declines by more than 15%, full exposure to decline from initial level
|
| Call: | Automatically at 127% of par if basket closes at or above call threshold level, 127% of initial basket level, on June 21, 2017
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| Initial index levels: | 2,021.15 for S&P 500 and 3,213.01 for Euro Stoxx 50
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 28
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| Agent: | J.P. Morgan Securities LLC
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| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 2%
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| Cusip: | 48128A764
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