Published on 3/18/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $13.12 million capped autocallable notes on MSCI Europe
By Marisa Wong
Madison, Wis., March 18 - JPMorgan Chase & Co. priced $13.12 million of 0% capped autocallable return enhanced notes due April 1, 2015 linked to the MSCI Europe index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the call level - 104.5% of the initial index level - on any of three call dates, the notes will be called at par plus a call premium of 8.55%.
If the notes are not called and the index finishes above the initial level, the payout at maturity will be par plus 1.9 times the index gain, subject to a maximum return of 8.55%. Investors will be fully exposed to any index decline.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Capped autocallable return enhanced notes
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Underlying index: | MSCI Europe index
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Amount: | $13,119,000
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Maturity: | April 1, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes above initial level, par plus 1.9 times index gain, subject to a maximum return of 8.55%; investors will be fully exposed to any index decline
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Call: | At par plus 8.55% if index closes at or above 104.5% of initial level on any of June 26, Sept. 25, 2014 or Dec. 26, 2014
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Initial index level: | 109.65
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Pricing date: | March 14
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Settlement date: | March 19
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48127DBR8
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