By Jennifer Chiou
New York, May 2 - JPMorgan Chase & Co. priced $4,331,870 of contingent income autocallable securities due May 5, 2015 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if the fund closes at or above its 75% barrier level on a quarterly determination date.
The notes will be redeemed at par plus the contingent coupon if the fund closes at or above its initial level on any of the first three determination dates.
The payout at maturity will be par plus the final contingent coupon unless the fund finishes below its 75% barrier level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC as distributor.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying fund: | Market Vectors Gold Miners ETF
|
| Amount: | $4,331,870
|
| Maturity: | May 5, 2015
|
| Coupon: | 10% annualized per quarter that fund closes at or above its barrier level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If fund finishes at or above barrier level, par plus the final contingent coupon; otherwise, full exposure to losses
|
| Call: | At par plus the contingent coupon if each index closes at or above its initial level on any of the first three quarterly determination dates
|
| Initial level: | $24.11
|
| Barrier level: | $18.0825, 75% of initial levels
|
| Pricing date: | April 30
|
| Settlement date: | May 5
|
| Agent: | J.P. Morgan Stanley Securities LLC with Morgan Stanley Smith Barney LLC as distributor
|
| Fees: | 1.5%
|
| Cusip: | 48127F517
|
© 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.
