Published on 6/13/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $495,000 8.25% autocallable yield notes linked to S&P 500, Russell 2000
By Angela McDaniels
Tacoma, Wash., June 13 - JPMorgan Chase & Co. priced $495,000 of 8.25% autocallable yield notes due June 14, 2013 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.
The notes will be called automatically at par if both indexes close at or above their initial levels on Sept. 11, 2012, Dec. 11, 2012 or March 11, 2013.
A trigger event will occur if either index falls by more than 40% during the life of the notes.
The payout at maturity will be par unless either index finishes below its initial level and a trigger event has occurred, in which case investors will lose 1% for every 1% that the worst-performing index declines below its initial level.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Autocallable yield notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $495,000
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Maturity: | June 14, 2013
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Coupon: | 8.25%, payable monthly
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Price: | Par
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Payout at maturity: | If either index finishes below its initial level and a trigger event has occurred, full exposure to decline of worst-performing index; otherwise, par
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Trigger event: | Either index declines by more than buffer amount during life of notes
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Call: | Automatically at par if both indexes close at or above their initial levels on Sept. 11, 2012, Dec. 11, 2012 or March 11, 2013
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Initial index levels: | 1,308.93 for S&P 500 and 751.01 for Russell 2000
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Buffer amounts: | 523.572 for S&P 500 and 300.404 for Russell 2000; 40% of initial levels
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Pricing date: | June 11
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Settlement date: | June 14
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.55%, including 1.75% for selling concessions
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Cusip: | 48125VF47
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