By Susanna Moon
Chicago, Nov. 14 – JPMorgan Chase & Co. priced $1.5 million of autocallable contingent interest notes due Nov. 16, 2017 linked to the worse performing of the iShares MSCI EAFE exchange-traded fund, the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7.5% if each underlying component closes at or above the 70% coupon barrier level on a review date for that month.
The notes will be called at par if each index closes at or above its initial level on any quarterly call date.
A trigger event will occur if any component ever closes below its 65% trigger level on any day during the life of the notes.
The payout at maturity will be par unless any underlying component finishes below its initial level and a trigger event occurs, in which case investors will be fully exposed to any losses of the worst performing component.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Autocallable contingent interest notes
|
Underlying components: | iShares MSCI EAFE ETF, the Russell 2000 index and the iShares MSCI Emerging Markets ETF
|
Amount: | $1.5 million
|
Maturity: | Nov. 16, 2017
|
Coupon: | 7.5% annualized, payable for each month that all components close at or above coupon barrier level on review date for that month
|
Price: | Par of $1,000
|
Payout at maturity: | Par unless any component falls and any component ever dips below trigger level during life of notes, in which case full exposure to any losses of worst performing component
|
Call: | At par if each index closes at or above initial level on any quarterly call date
|
Coupon barriers: | $44.079 for EAFE fund, 830.5269 for Russell and $28.847 for EM fund; 70% of initial levels
|
Trigger levels: | 65% of initial levels
|
Pricing date: | Nov. 12
|
Settlement date: | Nov. 17
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 0.4%
|
Cusip: | 48127DU89
|
|
|
© 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.