JPMorgan plans digital plus contingent buffered notes linked to Russian ruble, Norwegian krone

By Angela McDaniels

Tacoma, Wash., June 1 - JPMorgan Chase & Co. plans to price 0% digital plus contingent buffered notes due June 15, 2012 linked to the performance of a basket of currencies relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.

The basket includes equal weights of the Russian ruble and the Norwegian krone. The basket will increase if the currencies appreciate relative to the dollar.

If the final basket level is greater than or equal to the initial basket level, the payout at maturity will be par plus the greater of the digital return and the basket return. The digital return is expected to be at least 8% and will be set at pricing.

If the basket level declines by less than 10%, the payout will be par.

If the basket level declines by 10% or more, investors will be fully exposed to the basket decline from the initial level.

The notes (Cusip: 48125XTN6) are expected to price June 3 and settle June 8.

J.P. Morgan Securities LLC is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.