Published on 9/13/2011 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $6.23 million trigger autocallable securities tied to Ameriprise
By Toni Weeks
San Diego, Sept. 13 - JPMorgan Chase & Co. priced $6.23 million of 0% autocallable trigger optimization securities due Sept. 13, 2012 linked to the common stock of Ameriprise Financial, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Ameriprise shares close at or above the initial share price on any monthly observation date, the notes will be called at par plus an annualized call premium of 30.5%.
If the notes are not called and the final share price is greater than or equal to 55% of the initial price, the payout at maturity will be par. Otherwise, investors will share fully in losses.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
Issuer: | JPMorgan Chase & Co.
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Issue: | Trigger autocallable optimization securities
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Underlying stock: | Ameriprise Financial, Inc. (Symbol:)
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Amount: | $6,226,100
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Maturity: | Sept. 13, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If Ameriprise stock finishes at or above $22.95, which is 55% of initial price, par; otherwise exposure to losses
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Initial price: | $41.73
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Trigger price: | $22.95, 55% of initial
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Call option: | Par plus 30.5% per year if Ameriprise stock closes at or above the initial share price on any of 12 monthly observation dates
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Pricing date: | Sept. 9
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Settlement date: | Sept. 14
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Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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Fees: | 1.25%
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Cusip: | 46636T762
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