By Jennifer Chiou
New York, Nov. 23 - JPMorgan Chase & Co. priced $65 million of 0% daily liquidity notes due Nov. 21, 2014 linked to the Dow Jones-UBS Commodity Index 3 Month Forward Total Return, according to a 424B8 filing with the Securities and Exchange Commission.
J.P. Morgan Securities LLC, as the agent, sold $51.3 million of the notes on the pricing date. After the pricing date, additional notes may be offered.
The payout at maturity will be the indicative note value on Nov. 18, 2014.
The indicative value of each note will equal $1,000 on the pricing date. On each subsequent trading day, the indicative note value will equal the indicative note value on the preceding day multiplied by the index factor, minus the investor fee.
The index factor will equal the index closing level on that day divided by the index closing level on the preceding day.
On any trading day, the investor fee will equal the indicative note value of the preceding day times 0.8%, multiplied by the number of calendar days from the preceding trading day to the current trading day, divided by 360.
The notes are putable and callable beginning Nov. 23, 2011. Investors will receive the indicative note value on the relevant valuation date - three business days before the redemption date. Investors will be charged a repurchase fee of 0.2% if they choose to redeem the notes early.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Daily liquidity notes
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| Underlying index: Dow Jones-UBS Commodity Index 3 Month Forward Total Return
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| Amount: | $51.3 million, may be increased to up to $65 million
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| Maturity: | Nov. 21, 2014
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Indicative note value on Nov. 18, 2014; indicative value will equal $1,000 on the pricing date and for each subsequent trading day will equal the indicative value on the preceding day multiplied by the index factor, minus the investor fee
|
| Call: | At any time beginning Nov. 23, 2011; put option on daily basis at any time beginning Nov. 23, 2011; investors will receive the indicative note value minus a repurchase fee of 0.2%
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| Initial index level: 607.2879
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| Pricing date: | Nov. 18
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| Settlement date: | Nov. 23
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| Agent: | J.P. Morgan Securities LLC
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| Cusip: | 48124A3C9
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