Published on 11/5/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $51.55 million capped market plus notes linked to Brent crude
By Susanna Moon
Chicago, Nov. 5 - JPMorgan Chase & Co. priced $51.55 million of 0% capped market plus notes due Jan. 7, 2015 linked to a Brent crude oil futures contract, according to a 424B2 filing with the Securities and Exchange Commission.
If the price of Brent crude finishes at or above the trigger level, the payout at maturity will be par plus the greater of the 5% contingent minimum return and double any gain, up to a maximum return of 20%.
Otherwise, investors will be fully exposed to losses.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Capped market plus notes
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Underlying commodity: | Brent crude oil futures contract
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Amount: | $51,551,000
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Maturity: | Jan. 7, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If crude finishes at or above trigger level, par plus 200% of any gain, floor of 5% and gains capped at 20%; otherwise, full exposure to losses
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Initial price: | $94.61
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Trigger level: | 80% of initial level
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Pricing date: | Nov. 1
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Settlement date: | Nov. 6
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Agents: | J.P. Morgan Securities LLC
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Fees: | 1.1%
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Cusip: | 48126NTD9
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