By Wendy Van Sickle
Columbus, Ohio, Jan. 12 – JPMorgan Chase & Co. priced $7.5 million of autocallable contingent interest notes due Jan. 10, 2019 linked to the least performing of the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay an annual contingent coupon at a rate of 10% if each index closes at or above its coupon barrier level, 70% of its initial level, on the review date for that year.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any annual review date other than the final review date.
If the notes have not been called, the payout at maturity will be par if each index closes above their trigger value, 70% of its initial level.
Otherwise investors will be fully exposed to the decline of the worst performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Indexes: | S&P 500, Euro Stoxx 50 and Russell 2000
|
| Amount: | $7.5 million
|
| Maturity: | Jan. 10, 2019
|
| Coupon: | Notes pay annual contingent coupon at rate of 10% if each index closes at or above coupon barrier level on review date for that year
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below 70% of its initial value, in which case full exposure to decline of worst performing index
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any annual review date other than final one
|
| Initial levels: | 1,969.70 for S&P 500, 3,084.68 for Euro Stoxx 50 and 1,078.6 for Russell 2000
|
| Coupon barrier/trigger values: | 1,378.79 for S&P 500, 2,159.276 for Euro Stoxx 50 and 755.020 for Russell 2000; 70% of initial levels
|
| Pricing date: | Jan. 7
|
| Settlement date: | Jan. 12
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.8%
|
| Cusip: | 48128GJN1
|
|
|
© 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.
