Published on 1/28/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.1 million 5.15% callable yield notes on S&P 500, Russell 2000
By Toni Weeks
San Luis Obispo, Calif., Jan. 28 - JPMorgan Chase & Co. priced $1.1 million of 5.15% single observation callable yield notes due July 31, 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 payout at maturity will be par unless either index falls by more than 25% on the July 24, 2015 final observation date, in which case investors will be fully exposed to the decline of the worst-performing index.
The notes may be called at par on any interest payment date other than the maturity date.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Single observation callable yield notes
|
Underlying indexes: | S&P 500 and Russell 2000
|
Amount: | $1.1 million
|
Maturity: | July 31, 2015
|
Coupon: | 5.15%, payable quarterly
|
Price: | Par
|
Payout at maturity: | Full exposure to decline of worst-performing index if final level of either index is less than 75% of its initial level; otherwise, par
|
Call option: | At par on any interest payment date other than the maturity date
|
Initial levels: | 1,790.29 for S&P 500, 1,144.13 for Russell
|
Buffer levels: | 447.5725 for S&P 500 and 286.0325 for Russell, 25% of initial levels
|
Pricing date: | Jan. 24
|
Settlement date: | Jan. 31
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 1.5%
|
Cusip: | 48126NU88
|
© 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.