Published on 11/2/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.98 million 7.35% autocallable yield notes on fund, two indexes
By Marisa Wong
Madison, Wis., Nov. 2 - JPMorgan Chase & Co. priced $2.98 million of 7.35% annualized autocallable yield notes due Sept. 5, 2013 linked to the least performing of the Market Vectors Gold Miners exchange-traded fund, the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called automatically at par if each underlying closes at or above its initial level on May 1, May 31, 2013, July 1, 2013 or July 31, 2013.
A trigger event will occur if the closing level of any underlying component is less than its initial level by more than 40% on any day during the life of the notes.
The payout at maturity will be par unless any underlying 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 component declines below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlyings: | Market Vectors Gold Miners exchange-traded fund, Russell 2000 index and S&P 500 index
|
| Amount: | $2,978,000
|
| Maturity: | Sept. 5, 2013
|
| Coupon: | 7.35% per year, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlying finishes below its initial level and a trigger event has occurred, in which case 1% loss for every 1% that worst-performing component declines below initial level
|
| Trigger event: | Closing level of any underlying component is less than its initial level by more than 40% on any day during life of notes
|
| Call: | Automatically at par if each underlying closes at or above its initial level on May 1, May 31, 2013, July 1, 2013 or July 31, 2013
|
| Initial levels: | $52.85 for ETF, 1,412.16 for S&P, 818.73 for Russell
|
| Trigger levels: | $21.14 for ETF, 564.864 for S&P, 327.492 for Russell, 40% of initial levels
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.1%
|
| Cusip: | 48126DED7
|
© 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.
