Published on 1/22/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.73 million 6% autocallable yield notes linked to three indexes
By Angela McDaniels
Tacoma, Wash., Jan. 22 – JPMorgan Chase & Co. priced $1.73 million of 6% autocallable yield notes due April 25, 2017 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each index closes at or above its initial level on any monthly review date from Feb. 22, 2016 to March 20, 2017.
If the notes are not called, the payout at maturity will be par unless any index closes below its trigger value, 63% of its initial level, during the life of the notes and any index finishes below its initial level, in which case investors will be fully exposed to the decline of the least-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
|
| Amount: | $1,729,000
|
| Maturity: | April 25, 2017
|
| Coupon: | 6%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any index closes below trigger value during life of notes and any index finishes below initial level, in which case full exposure to decline of least-performing index
|
| Call: | Automatically at par if each index closes at or above initial level on any monthly review date from Feb. 22, 2016 to March 20, 2017
|
| Initial index levels: | 2,882.59 for Euro Stoxx 50, 999.315 for Russell 2000 and 1,859.33 for S&P 500
|
| Trigger values: | 1,816.0317 for Euro Stoxx 50, 629.56845 for Russell 2000 and 1,171.3779 for S&P 500; 63% of initial levels
|
| Pricing date: | Jan. 20
|
| Settlement date: | Jan. 25
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.475%
|
| Cusip: | 48128GGV6
|
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