Published on 2/5/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $11.32 million contingent coupon callable notes on indexes, fund
By Jennifer Chiou
New York, Feb. 5 - JPMorgan Chase & Co. priced $11,324,000 of contingent coupon callable yield notes due Feb. 6, 2018 linked to the Russell 2000 index, the S&P 500 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each component closes at or above its barrier level, 60% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any component finishes below its barrier level, in which case investors will be fully exposed to the decline of the worst-performing component.
The notes are callable at par plus the contingent coupon on any interest payment date.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying components: Russell 2000, S&P 500 and iShares MSCI EAFE ETF
|
| Amount: | $11,324,000
|
| Maturity: | Feb. 6, 2018
|
| Coupon: | 8% per year, payable quarterly if each component closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any component finishes below knock-in level, in which case full exposure to decline of worst-performing component
|
| Call option: | At par plus contingent coupon on any interest payment date
|
| Initial levels: | 1,094.58 for Russell, 1,741.89 for S&P 500, $62.31 for iShares MSCI EAFE
|
| Barrier levels: | 656.748 for Russell, 1,045.134 for S&P 500, $37.386 for iShares MSCI EAFE; 60% of initial levels
|
| Pricing date: | Feb. 3
|
| Settlement date: | Feb. 6
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48126N2F3
|
© 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.
