By Marisa Wong
Madison, Wis., May 29 - JPMorgan Chase & Co. priced $4 million of 5% single observation autocallable yield notes due May 29, 2015 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be automatically called at par if each index closes at or above its initial level on a quarterly call date.
If the notes are not called and the final level of either underlying index is less than 65% of its initial level, the payout at maturity will be par plus the return of the lesser performing index. Otherwise, the payout will be par.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Single observation autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $4 million
|
| Maturity: | May 29, 2015
|
| Coupon: | 5%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Full exposure to decline of lesser performing index if final level of either index is less than 65% of its initial level; otherwise, par
|
| Call: | Automatically at par if each index closes at or above its initial level on a quarterly call date
|
| Initial index levels: | 1,649.60 for S&P 500 and 984.28 for Russell
|
| Buffer amounts: | 577.36 for S&P 500 and 344.498 for Russell, 35% of initial levels
|
| Pricing date: | May 24
|
| Settlement date: | May 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.8%, all for selling concessions
|
| Cusip: | 48126NBR7
|
© 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.
