Published on 12/24/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.06 million 7.8% airbag yield notes linked to Jazz
By Marisa Wong
Madison, Wis., Dec. 24 - JPMorgan Chase & Co. priced $1.06 million of 7.8% annualized airbag yield optimization notes due June 26, 2014 linked to Jazz Pharmaceuticals plc shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Jazz shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.
J.P. Morgan Securities LLC is the agent with UBS Financial Services Inc. as dealer.
Issuer: | JPMorgan Chase & Co.
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Issue: | Airbag yield optimization notes
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Underlying stock: | Jazz Pharmaceuticals plc (Symbol: JAZZ)
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Amount: | $1,058,000
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Maturity: | June 26, 2014
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Coupon: | 7.8% per year, payable monthly
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Price: | Par
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Payout at maturity: | If final price is less than conversion price, 10.0878 Jazz shares; otherwise, par
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Initial price: | $123.91
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Conversion price: | $99.13, 80% of initial price
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Pricing date: | Dec. 20
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Settlement date: | Dec. 31
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Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48127A484
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