Published on 5/2/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.25 million 7.2% autocallable yield notes on fund, indexes
By Susanna Moon
Chicago, May 2 - JPMorgan Chase & Co. priced $1.25 million of 7.2% autocallable yield notes due May 5, 2016 linked to the iShares MSCI Emerging Markets exchange-traded fund, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par plus accrued interest if each component closes at or above its initial level on any quarterly call date.
A trigger event will occur if any component closes below its initial level by more than the 30% buffer amount on any trading day during the life of the notes.
The payout at maturity will be par unless a trigger event occurs and the return of the worst performing component is negative, in which case investors will share in losses of the worst performing component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying components: | iShares MSCI Emerging Markets ETF, Euro Stoxx 50 and Russell 2000 index
|
| Amount: | $1.25 million
|
| Maturity: | May 5, 2016
|
| Coupon: | 7.2%, payable quarterly
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless any component falls below its initial level by more than buffer amount on any trading day during life of notes and return of worst performing component is negative, in which case full exposure to losses of worst performing component
|
| Call: | At par plus accrued interest if each component closes at or above its initial level on any quarterly call date
|
| Initial levels: | $41.33 for EM fund, 1,883.95 for S&P, 1,126.857 for Russell
|
| Buffer amounts: | $12.399 for EM fund, 565.185 for S&P, 338.0571 for Russell; 30% of initial levels
|
| Pricing date: | April 30
|
| Settlement date: | May 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.1%
|
| Cusip: | 48127DGD4
|
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