Published on 8/30/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $283,000 9% autocallable yield notes linked to indexes, ETF
By Angela McDaniels
Tacoma, Wash., Aug. 30 - JPMorgan Chase & Co. priced $283,000 of 9% annualized autocallable yield notes due May 31, 2013 linked to the Market Vectors Gold Miners exchange-traded fund, the S&P 500 index, 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 each underlying closes at or above its initial level on Nov. 27, 2012 or Feb. 25, 2013.
A trigger event will occur if the closing level of any underlying declines by more than 35% 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 worse-performing underlying declines below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying components: | Market Vectors Gold Miners ETF, S&P 500 and Russell 2000
|
| Amount: | $283,000
|
| Maturity: | May 31, 2013
|
| Coupon: | 9%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If any underlying finishes below its initial level and a trigger event has occurred, full exposure to decline of worse-performing underlying; otherwise, par
|
| Trigger event: | Any underlying declines by more than buffer amount during life of notes
|
| Call: | Automatically at par if each underlying closes at or above its initial level on Nov. 27, 2012 or Feb. 25, 2013
|
| Initial levels: | $46.85 for ETF, 1,409.30 for S&P 500 and 814.28 for Russell 2000
|
| Buffer amounts: | $16.39 for ETF, 493.255 for S&P 500 and 284.998 for Russell 2000; 35% of initial levels
|
| Pricing date: | Aug. 28
|
| Settlement date: | Aug. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.75%, including 1.557% for selling concessions
|
| Cusip: | 48125V2B5
|
© 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.
