Published on 8/30/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $915,000 10.5% autocallable yield notes linked to ETFs, Russell 2000
By Angela McDaniels
Tacoma, Wash., Aug. 30 - JPMorgan Chase & Co. priced $915,000 of 10.5% autocallable yield notes due Aug. 30, 2013 linked to the Market Vectors Gold Miners exchange-traded fund, the United States Oil Fund, LP 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 automatically at par if each underlying closes at or above its initial level on Nov. 27, 2012, Feb. 25, 2013 or May 28, 2013.
A trigger event will occur if the closing level of any underlying declines by more than 45% 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, United States Oil Fund, LP and Russell 2000
|
| Amount: | $915,000
|
| Maturity: | Aug. 30, 2013
|
| Coupon: | 10.5%, 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, Feb. 25, 2013 or May 28, 2013
|
| Initial levels: | $46.85 for gold miners ETF, $35.79 for oil fund and 814.28 for Russell 2000
|
| Buffer amounts: | $21.08 for gold miners ETF, $16.11 for oil fund and 366.426 for Russell 2000; 45% of initial levels
|
| Pricing date: | Aug. 28
|
| Settlement date: | Aug. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.5%
|
| Cusip: | 48125V2C3
|
© 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.
