Published on 3/11/2011 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.22 million global expansion PLUS on indexes, funds
By Susanna Moon
Chicago, March 11 - JPMorgan Chase & Co. priced $3.22 million of 0% global expansion Performance Leveraged Upside Securities due April 12, 2012 linked to a basket of two indexes and five exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 40% weight, and the Russell 2000 index, iShares MSCI EAFE index fund, iShares MSCI Emerging Markets index fund, iShares Dow Jones U.S. Real Estate index fund, Technology Select Sector SPDR fund and PowerShares DB Commodity Index Tracking fund, each with a 10% weight.
The payout at maturity will be par of $10 plus triple any gain in the basket, up to a maximum return of 14.2%.
Investors will be exposed to any losses.
J.P. Morgan Securities LLC is the agent. It used all of its commission to allow selling concessions to Morgan Stanley Smith Barney LLC.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Global expansion Performance Leveraged Upside Securities
|
| Underlying basket: | S&P 500 index (40% weight), and the Russell 2000 index, iShares MSCI EAFE index fund, iShares MSCI Emerging Markets index fund, iShares Dow Jones U.S. Real Estate index fund, Technology Select Sector SPDR fund and PowerShares DB Commodity Index Tracking fund, (each with a 10% weight)
|
| Amount: | $3,216,850
|
| Maturity: | April 12, 2012
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any basket gain, capped at 14.2%; exposure to any losses
|
| Initial levels: | 1,320.02 for S&P, 821.19 for Russell, $60.85 for MSCI EAFE, $46.95 for MSCI EM, $59.19 for real estate, $26.19 for technology and $30.15 for DB commodity
|
| Pricing date: | March 9
|
| Settlement date: | March 14
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 46634X336
|
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