Published on 2/9/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $9.18 million trigger phoenix autocallables on Euro Stoxx, Russell
By Marisa Wong
Morgantown, W.Va., Feb. 9 – JPMorgan Chase & Co. priced $9.18 million of trigger phoenix autocallable optimization securities due Feb. 11, 2026 linked to the Euro Stoxx 50 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 9.65% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
After one year, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date.
If the notes are not called and each index finishes at or above its trigger level, 50% of its initial level, the payout at maturity will be par plus the final contingent coupon, if any. Otherwise, investors will be exposed to the decline of the lesser-performing index.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying indexes: | Euro Stoxx 50, Russell 2000
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| Amount: | $9,180,180
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| Maturity: | Feb. 11, 2026
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| Coupon: | 9.65%, payable quarterly if each index closes at or above barrier level on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon if each index finishes at or above trigger level; otherwise, full exposure to decline of lesser-performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date after one year
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| Initial levels: | 2,879.39 for Euro Stoxx 50, 985.618 for Russell 2000
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| Barrier levels: | 2,015.57 for Euro Stoxx 50, 689.933 for Russell 2000; 70% of initial levels
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| Trigger levels: | 1,439.70 for Euro Stoxx 50, 492.809 for Russell 2000; 50% of initial levels
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| Pricing date: | Feb. 5
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| Settlement date: | Feb. 10
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| Agents: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
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| Fees: | 3.5%
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| Cusip: | 48128A244
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