Published on 12/1/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.79 million autocallable contingent interest notes on S&P, Vanguard Total ETF
New York, Dec. 1 – JPMorgan Chase & Co. priced $3,793,000 of autocallable contingent interest notes due Nov. 30, 2017 linked to the lesser performing of the S&P 500 index and the Vanguard Total Stock Market ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlier closes at or above the 80% barrier level on a quarterly review date, the notes will pay a contingent coupon at an annualized rate of 6.5% for that quarter.
The notes will be automatically called at par plus the contingent coupon if each underlier closes at or above its initial level on any quarterly review date.
If the notes have not been called, the payout at maturity will be par unless any underlier finishes below its trigger level, 70% of its initial level, in which case investors will be fully exposed to the decline of the lesser-performing underlier.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underliers: | S&P 500 index, Vanguard Total Stock Market ETF
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| Amount: | $3,793,000
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| Maturity: | Nov. 30, 2017
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| Coupon: | Annualized rate of 6.5% per quarter it both underliers close at or above the interest barrier level on a quarterly review date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless final level of any underlier is less than trigger level, in which case full exposure to decline of lesser-performing underlier
|
| Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any quarterly review date
|
| Initial levels: | 2,027.83 for S&P 500, $106.98 for Vanguard Total Stock Market ETF
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| Trigger levels: | 1,450.9812 for S&P 500, $74.886 for Vanguard Total Stock Market ETF, 70% of initial levels
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| Interest barriers: | 1,658.264 for S&P 500, $85.584 for Vanguard Total Stock Market ETF, 80% of initial levels
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| Pricing date: | Nov. 26
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| Settlement date: | Dec. 2
|
| Agent: | J.P. Morgan Securities LLC
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| Fees: | 4%
|
| Cusip: | 48127DX78
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