Published on 1/30/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $14 million autocallable contingent interest notes linked to SPDR Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., Jan. 30 - JPMorgan Chase & Co. priced $14 million of autocallable contingent interest notes due Jan. 31, 2017 linked to the SPDR Euro Stoxx 50 exchange-traded fund., according to a 424B2 filing with the Securities and Exchange Commission.
If SPDR Euro Stoxx 50 shares close at or above the barrier level, 75% of the initial share price, on a semiannual review date, the notes will pay a coupon at an annual rate of 8% for that six-month period.
The notes will be called at par plus the coupon if the shares close at or above the initial share price on Jan. 27, 2015, July 28, 2015, Jan. 26, 2016 or July 26, 2016.
If the notes have not been called and the ETF finishes at or above the trigger level, the payout at maturity will be par plus the coupon. Otherwise, investors will be fully exposed to losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying ETF: | SPDR Euro Stoxx 50
|
| Amount: | $13,996,000
|
| Maturity: | Jan. 31, 2017
|
| Coupon: | 8% per year, payable semiannually if SPDR Euro Stoxx 50 shares close at or above trigger level on review date for that six-month period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless SPDR Euro Stoxx 50 shares finish below trigger level, in which case investors share fully in losses
|
| Call: | Automatically at par plus contingent coupon if SPDR Euro Stoxx 50 shares close at or above initial share price on Jan. 27, 2015, July 28, 2015, Jan. 26, 2016 or July 26, 2016
|
| Initial share price: | $40.84
|
| Trigger level: | $30.63, 75% of initial share price
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.09964%
|
| Cusip: | 48126N2H9
|
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