Published on 8/29/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.51 million trigger autocallables tied to Altria
By Marisa Wong
Madison, Wis., Aug. 29 – JPMorgan Chase & Co. priced $1.51 million of 0% trigger autocallable optimization securities due Aug. 30, 2019 linked to the common stock of Altria Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Beginning one year after issuance, the notes will be called at par of $10 plus a call return of 8% per year if the shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and the shares finish at or above the 67% trigger level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline in the share price.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Trigger autocallable optimization securities
|
Underlying stock: | Altria Group, Inc. (Symbol: MO)
|
Amount: | $1,505,000
|
Maturity: | Aug. 30, 2019
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | Par if Altria stock finishes at or above trigger price; otherwise, exposure to losses
|
Initial price: | $42.82
|
Trigger price: | $28.69, 67% of initial price
|
Call option: | Par plus 8% per year if Altria stock closes at or above the initial share price on any of the quarterly observation dates beginning on Aug. 31, 2015
|
Pricing date: | Aug. 27
|
Settlement date: | Aug. 29
|
Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
Fees: | 2.5%
|
Cusip: | 481246379
|
|
© 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.