By Susanna Moon
Chicago, Nov. 8 - JPMorgan Chase & Co. priced $1.66 million of 0% autocallable buffered return enhanced notes due Nov. 15, 2012 linked to the first nearby month futures contract for Brent crude oil, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called if the contract price on any review date is at or above 95% of the initial contract price. The review dates are Feb. 6, 2012, May 4, 2012 and Aug. 6, 2012.
Holders will receive par plus a call premium of 4% if the notes are called on the first call date, 8% if called on the second call date and 12% if called on the third call date.
If the notes are not called and the final price is at least 95% of the initial price of Brent crude, the payout at maturity will be par plus three times the sum of the return plus 5%, up to a maximum return of 60%.
Investors will receive par if the price falls by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable buffered return enhanced notes
|
| Underlying commodity: | Brent crude futures contracts
|
| Amount: | $1,656,000
|
| Maturity: | Nov. 15, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus three times the sum of the return plus 5% if final price is at least 95% of initial price, capped at maximum return of 60%; par if price falls by up to 10%; 1.1111% loss per 1% drop beyond 10%
|
| Call: | At par plus call premium if contract price at or above 95% of initial contract price on Feb. 6, 2012, May 4, 2012 or Aug. 6, 2012; call premium is 4% if notes are called on first call date, 8% if called on second call date and 12% if called on third call date
|
| Pricing date: | Nov. 4
|
| Settlement date: | Nov. 9
|
| Agents: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125VCA6
|
© 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.
