Published on 9/27/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $134,000 7% autocallable yield notes linked to EM ETF, Russell 2000
By Angela McDaniels
Tacoma, Wash., Sept. 27 - JPMorgan Chase & Co. priced $134,000 of 7% autocallable yield notes due March 31, 2014 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 automatically at par if each underlying component closes at or above its initial level on Dec. 26, 2012, March 25, 2013, June 25, 2013, Sept. 25, 2013 or Dec. 24, 2013.
A trigger event will occur if the closing level of any underlying component declines by more than 40% during the life of the notes.
The payout at maturity will be par unless any underlying component 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: | iShares MSCI Emerging Markets index fund and Russell 2000 index
|
| Amount: | $134,000
|
| Maturity: | March 31, 2014
|
| Coupon: | 7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If any underlying component finishes below its initial level and a trigger event has occurred, full exposure to decline of worse-performing underlying component; otherwise, par
|
| Trigger event: | Any underlying component declines by more than buffer amount during life of notes
|
| Call: | Automatically at par if each underlying component closes at or above its initial level on Dec. 26, 2012, March 25, 2013, June 25, 2013, Sept. 25, 2013 or Dec. 24, 2013
|
| Initial levels: | $41.11 for ETF and 839.12 for index
|
| Buffer amounts: | $16.444 for ETF and 335.648 for index; 40% of initial levels
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.1%, including 2% for selling concessions
|
| Cusip: | 48125V5N6
|
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