By Marisa Wong
Madison, Wis., Dec. 30 – JPMorgan Chase & Co. priced $6.77 million of contingent income autocallable securities due Dec. 30, 2015 linked to the S&P GSCI Brent Crude Oil Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly payment at a rate of 21% per year if the index closes at or above the 85% downside threshold level on the determination date for that quarter.
If the index closes at or above the redemption threshold level, which is 95% of the initial level, on any quarterly determination date other than the final date, the notes will be called at par plus the contingent coupon.
If the notes are not called and the index finishes at or above the 85% downside threshold level, the payout at maturity will be par plus the contingent payment.
Otherwise, investors will share in any losses.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC handling distribution.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying index: | S&P GSCI Brent Crude Oil Index Excess Return
|
| Amount: | $6,774,000
|
| Maturity: | Dec. 30, 2015
|
| Coupon: | Contingent quarterly payment of 21% per year if index closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | If index finishes at or above downside threshold level, par plus contingent payment; otherwise, investors will share in any losses
|
| Call: | At par plus contingent coupon if index closes at or above redemption threshold level on any quarterly determination date other than final date
|
| Initial level: | 490.8268
|
| Downside threshold: | 417.20278, 85% of initial level
|
| Redemption threshold: | 466.28546, 95% of initial level
|
| Pricing date: | Dec. 24
|
| Settlement date: | Dec. 30
|
| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Smith Barney LLC handling distribution
|
| Fees: | 1.75%
|
| Cusip: | 48127D3T3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
