By Jennifer Chiou
New York, April 5 - JPMorgan Chase & Co. priced $7.52 million of 0% autocallable buffered return enhanced notes due April 13, 2012 linked to basket of commodities, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of Brent crude oil futures contracts, grade A copper, corn futures contracts and palladium.
If the basket's closing level on Oct. 3, 2011 is greater than or equal to the initial basket level, the notes will be called and investors will receive par plus a call premium of 6.5%.
If the notes are not called, the payout at maturity will be par plus 1.25 times the basket return if the return is positive, subject to a maximum return of 25%.
If the basket declines by 20% or less, the payout will be par.
If the basket declines by more than 20%, investors will be fully exposed to the decline from the initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable buffered return enhanced notes
|
| Underlying assets: | Equal weights of Brent crude oil futures contracts, grade A copper, corn futures contracts and palladium
|
| Amount: | $7,521,000
|
| Maturity: | April 13, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.25 times the basket return if the return is positive, subject to a maximum return of 25%; par if the basket declines by 20% or less; if the basket declines by more than 20%, investors will be fully exposed to the decline
|
| Call: | Automatically at par plus 6.5% if basket's closing level on Oct. 3, 2011 is greater than or equal to the initial basket level
|
| Initial levels: | $118.70 for corn, $9,336 for copper, 736¢ for corn, $772 for palladium
|
| Pricing date: | April 1
|
| Settlement date: | April 6
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125XKW5
|
© 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.
