Published on 4/28/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $110,000 add-on to contingent coupon callable yield notes linked to basket
By Angela McDaniels
Tacoma, Wash., April 28 – JPMorgan Chase & Co. priced $110,000 of additional contingent coupon callable yield notes due March 29, 2018 linked to the least performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The original $5.87 million of notes priced March 26. The total issue size is now $5.98 million.
Each quarter, the notes will pay a contingent coupon at the rate of 8.25% 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: | S&P 500 index, Russell 2000 index and iShares MSCI EAFE ETF
|
| Amount: | $5,978,000, increased from $5,868,000
|
| Maturity: | March 29, 2018
|
| Coupon: | 8.25% 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: | 2,056.15 for S&P 500, 1,231.99 for Russell 2000 and $64.98 for ETF
|
| Barrier levels: | 1,336.4975 for S&P 500, 800.7935 for Russell 2000 and $42.237 for ETF; 65% of initial levels
|
| Pricing dates: | March 26 for $5,868,000 and April 24 for $110,000
|
| Settlement dates: | March 31 for original issue and April 29 for add-on
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75% for original issue; 1.5% for add-on
|
| Cusip: | 48125UHN5
|
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