Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers I > Headlines for iShares MSCI EAFE exchange-traded fund > News item |
JPMorgan plans autocallable contingent interest notes on index, fund
By Marisa Wong
Madison, Wis., July 2 – JPMorgan Chase & Co. plans to price autocallable contingent interest notes due Nov. 2, 2015 linked to the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If each underlying component closes at or above the 70% barrier level on a quarterly review date, the notes will pay a coupon at an annualized rate of 7% to 9% for that interest period. The exact contingent coupon will be set at pricing.
If each underlying component closes at or above its initial level on any review date other than the final review date, the notes will be called at par plus the coupon.
A trigger event occurs if either underlying component closes below the 70% trigger level on any day during the life of the notes.
If the notes have not been called and a trigger event has not occurred or the underlying components both finish at or above their initial levels, the payout at maturity will be par plus the contingent coupon.
If either underlying component finishes below its initial level and a trigger event has occurred, investors will lose 1% for every 1% decline in the lesser-performing underlying component from its initial level.
J.P. Morgan Securities LLC is the agent.
The notes will price on July 28 and settle on July 31.
The Cusip number is 48127DRN0.
© 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.