Published on 7/29/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.73 million 5.4% autocallable yield notes linked to fund, index
By Toni Weeks
San Luis Obispo, Calif., July 29 – JPMorgan Chase & Co. priced $5.73 million of 5.4% autocallable yield notes due Feb. 1, 2017 linked to the worst-performing of the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
After six months, the notes will be called at par if each component closes at or above its initial level on any quarterly review date other than the final review date.
The payout at maturity will be par unless any component finishes below its 80% trigger level, in which case investors will lose 1.25% for each 1% decline of the worst-performing component beyond 20%.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Autocallable yield notes
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Underlying components: | Russell 2000 index and iShares MSCI EAFE ETF
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Amount: | $5,728,000
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Maturity: | Feb. 1, 2017
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Coupon: | 5.4%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any component closes below trigger level on any day during life of notes and any component finishes below initial level, in which case full exposure to decline of worst-performing component
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Call: | Automatically at par if each component closes at or above initial level on any quarterly review date other than final review date; first review date is Jan. 27, 2016
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Initial levels: | 1,214.614 for Russell, $63.42 for iShares MSCI EAFE
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Buffer amount: | 20% of initial levels
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Pricing date: | July 27
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Settlement date: | July 30
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.15%
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Cusip: | 48125UD25
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