By Toni Weeks
San Luis Obispo, Calif., May 16 - JPMorgan Chase & Co. priced $50 million of 5% annualized return notes due July 22, 2013 linked to the PowerShares Senior Loan Portfolio, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
For each $1,000 principal amount of notes, the payout at maturity will be (a) $998.10 plus (b) $1,000 multiplied by the fund return, where the fund return is the (a) final share price minus the share strike price divided by (b) the share strike price.
The share strike price was set by the calculation agent and was not the official closing price of one share of the exchange-traded fund on the pricing date.
The ETF seeks to provide investment results that correspond generally to the price and yield performance of the S&P/LSTA U.S. Leveraged Loan 100 index, which tracks the market-weighted performance of the largest institutional leveraged loans based on market weightings, spreads and interest payments.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Return notes
|
| Underlying ETF: | PowerShares Senior Loan Portfolio
|
| Amount: | $50 million
|
| Maturity: | July 22, 2013
|
| Coupon: | 5%
|
| Price: | Par
|
| Payout at maturity: | For each $1,000 principal amount, (a) $998.10 plus (b) $1,000 multiplied by fund return
|
| Fund return: | (a) Final share price minus share strike price divided by (b) share strike price
|
| Share strike price: | $25.31
|
| Pricing date: | May 14
|
| Settlement date: | May 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48126DV30
|
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