By Susanna Moon
Chicago, Jan. 4 – JPMorgan Chase & Co. priced $6.45 million of 8% autocallable reverse convertible securities due July 3, 2017 linked to the common stocks of Coca-Cola Co., General Electric Co. and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each stock closes at or above the initial share price on any review date other than the final date.
The payout at maturity will be par unless any stock finishes below the trigger level, 70% of the initial share price, in which case investors will receive a number of shares of the worst performing stock equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable reverse convertible securities
|
| Underlying stock: | Coca-Cola Co. (Symbol: KO), General Electric Co. (Symbol: GE) and Walt Disney Co. (Symbol: DIS)
|
| Amount: | $6.45 million
|
| Maturity: | July 3, 2017
|
| Coupon: | 8%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock falls below trigger level, in which case shares of the worst performing stock equal to $1,000 divided by the initial share price
|
| Call: | At par if each stock closes at or above initial share price on any review date other than the final date
|
| Initial level: | $43.49 Coca-Cola, $30.90 for General Electric and $107.25 for Disney
|
| Trigger level: | $30.443 Coca-Cola, $21.63 for General Electric and $75.075 for Disney; 70% of initial share price
|
| Pricing date: | Dec. 28
|
| Settlement date: | Dec. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.97%
|
| Cusip: | 46625HPW4
|
|
|
|
|
© 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.
