Published on 1/13/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $255,000 6.25% autocallable yield notes tied to indexes
By Marisa Wong
Madison, Wis., Jan. 13 – JPMorgan Chase & Co. priced $255,000 of 6.25% autocallable yield notes due July 14, 2016 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus accrued interest if each index closes at or above its initial level on any of two determination dates, which are Jan. 11, 2016 and April 11, 2016.
A trigger event will occur if either index 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 index is negative, in which case investors will be fully exposed to the decline of the worst-performing index.
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 indexes: | S&P 500 and Russell 2000
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| Amount: | $255,000
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| Maturity: | July 14, 2016
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| Coupon: | 6.25%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless either index closes below 70% trigger level during life of notes and return of worst-performing index is negative, in which case 1% loss for every 1% that worst-performing index finishes below initial level
|
| Call: | Automatically at par if both indexes close at or above their initial levels on any determination date (Jan. 11, 2016 and April 11, 2016)
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| Initial index levels: | 2,044.81 for S&P 500, 1,185.676 for Russell 2000
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| Buffer amount: | 613.443 for S&P 500, 355.7028 for Russell 2000, 30% of initial levels
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| Pricing date: | Jan. 9
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| Settlement date: | Jan. 14
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48127D5H7
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