Published on 9/16/2011 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.53 million 11.5% single observation callable yield notes linked to indexes
By Angela McDaniels
Tacoma, Wash., Sept. 16 - JPMorgan Chase & Co. priced $2.53 million of 11.5% single observation callable yield notes due Sept. 21, 2012 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If the final level of either underlying index is less than 75% of its initial level, the payout at maturity will be par plus the return of the worst-performing index. Otherwise, the payout will be par.
The notes are callable at par on Dec. 21, March 21, 2012 and June 21, 2012.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Single observation callable yield notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $2,526,000
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Maturity: | Sept. 21, 2012
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Coupon: | 11.5%, payable monthly
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Price: | Par
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Payout at maturity: | Full exposure to decline of worst-performing index if final level of either index is less than 75% of its initial level; otherwise, par
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Call option: | At par on Dec. 21, March 21, 2012 and June 21, 2012
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Initial index levels: | 1,188.68 for S&P 500 and 704.12 for Russell 2000
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Pricing date: | Sept. 14
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Settlement date: | Sept. 21
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.75%, including 1.5% for selling concessions
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Cusip: | 48125XZ41
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