Published on 7/24/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.5 million 7.5% autocallable yield notes tied to iShares EM, Russell
By Toni Weeks
San Diego, July 24 - JPMorgan Chase & Co. priced $1.5 million of 7.5% autocallable yield notes due July 25, 2013 linked to the iShares MSCI Emerging Markets index fund 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 at par if each underlying component closes at or above its initial level on any of three quarterly call dates.
A trigger event will occur if any component falls by more than 40% during the life of the notes.
The payout at maturity will be par unless a trigger event has occurred and either component finishes below its initial level, in which case investors will lose 1% for every 1% decline of the worst-performing component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying components: | iShares MSCI Emerging Markets index fund and Russell 2000 index
|
| Amount: | $1,495,000
|
| Maturity: | July 25, 2013
|
| Coupon: | 7.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If either component falls below 60% of initial level during life of notes and finishes below initial level, 1% loss for every 1% decline of worst-performing component; otherwise, par
|
| Call: | At par if each underlying component closes at or above initial levels on Oct. 22, Jan. 22, 2013 and April 22, 2013
|
| Initial levels: | $38.59 for iShares EM and 791.54 for Russell
|
| Protection amounts: | $15.436 for iShares EM and 316.616 for Russell, 40% of initial levels
|
| Pricing date: | July 20
|
| Settlement date: | July 25
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.626%, including 2.5% for selling concessions
|
| Cusip: | 48125VR77
|
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