Published on 3/21/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.36 million 6.7% autocallable yield notes linked to Russell, ETFs
By Marisa Wong
Madison, Wis., March 21 - JPMorgan Chase & Co. priced $1.36 million of 6.7% autocallable yield notes due March 24, 2014 linked to the Market Vectors Gold Miners exchange-traded fund, 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 automatically called at par if each underlying component closes at or above its initial level on June 19, Sept. 18 or Dec. 18, 2013.
A trigger event will occur if any component declines by more than 39% during the life of the notes.
The payout at maturity will be par unless a trigger event occurs and the final level of any underlying component is less than its initial level, in which case investors will lose 1% for every 1% that the least-performing component 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 exchange-traded fund, iShares MSCI Emerging Markets index fund and Russell 2000 index
|
| Amount: | $1,358,000
|
| Maturity: | March 24, 2014
|
| Coupon: | 6.7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any component declines by more than buffer amount during life of notes and final level of any component is less than initial level, in which case full exposure to decline of least-performing component from initial level
|
| Call: | At par if each underlying component closes at or above initial level on June 19, Sept. 18 or Dec. 18, 2013
|
| Initial levels: | $37.58 for gold ETF, $41.98 for emerging markets ETF and 942.85 for Russell 2000
|
| Buffer amount: | $14.6562 for gold ETF, $16.3722 for emerging markets ETF and 367.7115 for Russell 2000; 39% of initial levels
|
| Pricing date: | March 19
|
| Settlement date: | March 22
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.974%, including 2.25% for selling concessions
|
| Cusip: | 48126DZH5
|
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