Published on 3/8/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $760,000 8.5% yield notes linked to 10-year U.S. dollar ICE swap rate
By Tali Rackner
Norfolk, Va., March 8 – JPMorgan Chase & Co. priced $760,000 of 8.5% yield notes due March 10, 2017 linked to the 10-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
If the final 10-year U.S. dollar ICE swap rate is greater than or equal to the initial rate or is less than the initial rate by up to 25%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final rate is less than the initial rate.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Yield notes
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Underlying rate: | 10-year U.S. dollar ICE swap rate
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Amount: | $760,000
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Maturity: | March 10, 2017
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Coupon: | 8.5%, payable quarterly
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Price: | Par
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Payout at maturity: | If final 10-year U.S. dollar ICE swap rate is greater than or equal to initial rate or is less than initial rate by up to 25%, par; otherwise, 1% loss for every 1% that final rate is less than initial rate by more than 25%
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Strike rate: | 1.74%
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Pricing date: | March 4
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Settlement date: | March 9
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.893%
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Cusip: | 48128GQW3
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