Published on 8/30/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $616,000 8% autocallable yield notes linked to S&P 500, Russell 2000
By Angela McDaniels
Tacoma, Wash., Aug. 30 - JPMorgan Chase & Co. priced $616,000 of 8% autocallable yield notes due Aug. 30, 2013 linked to the S&P 500 index 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 either underlying declines by more than 30% during the life of the notes.
The payout at maturity will be par unless either underlying index 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 index declines below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $616,000
|
| Maturity: | Aug. 30, 2013
|
| Coupon: | 8%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If either underlying index finishes below its initial level and a trigger event has occurred, full exposure to decline of worse-performing index; otherwise, par
|
| Trigger event: | Either underlying index declines by more than buffer amount during life of notes
|
| Call: | Automatically at par if each underlying index closes at or above its initial level on Nov. 27, 2012, Feb. 25, 2013 or May 28, 2013
|
| Initial levels: | 1,409.30 for S&P 500 and 814.28 for Russell 2000
|
| Buffer amounts: | 422.79 for S&P 500 and 244.284 for Russell 2000; 30% of initial levels
|
| Pricing date: | Aug. 28
|
| Settlement date: | Aug. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.25%, including 0.25% for selling concessions
|
| Cusip: | 48125V2A7
|
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