Published on 3/27/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.09 million contingent coupon callable yield notes linked to basket
By Angela McDaniels
Tacoma, Wash., March 27 – JPMorgan Chase & Co. priced $1.09 million of contingent coupon callable yield notes due March 29, 2018 linked to the least performing of the Euro Stoxx 50 index, the WisdomTree Japan Hedged Equity Fund and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7.65% per year if each underlying component closes at or above its barrier level, 65% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any underlying component finishes below its barrier level, in which case investors will be fully exposed to the decline of the least-performing underlying component.
The notes are callable at par on any interest payment date other than the final one.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent coupon callable yield notes
|
| Underlyings: | Euro Stoxx 50 index, WisdomTree Japan Hedged Equity Fund and iShares MSCI EAFE ETF
|
| Amount: | $1,089,000
|
| Maturity: | March 29, 2018
|
| Coupon: | 7.65% per year, payable quarterly if each underlying component closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlying component finishes below barrier level, in which case full exposure to decline of least-performing underlying component
|
| Call option: | At par on any interest payment date other than final one
|
| Initial levels: | 3,684.04 for Euro Stoxx 50, $56.00 for Japan fund and $65.54 for EAFE ETF
|
| Barrier levels: | 2,394.626 for Euro Stoxx 50, $36.40 for Japan fund and $42.601 for EAFE ETF; 65% of initial levels
|
| Pricing date: | March 25
|
| Settlement date: | March 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48125UJT0
|
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