By Susanna Moon
Chicago, April 29 - JPMorgan Chase & Co. priced $677,000 of 9.5% autocallable yield notes due April 30, 2014 linked to the Market Vectors Gold Miners exchange-traded 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 at par plus accrued interest if both components close above their initial levels on any quarterly call date.
A trigger event will occur if either component closes below the 70% trigger level on any trading day.
The payout at maturity will be par unless a trigger event occurs and the return of the least-performing component is negative, in which case investors will share in any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying components: | Market Vectors Gold Miners ETF and the Russell 2000 index
|
| Amount: | $677,000
|
| Maturity: | April 30, 2014
|
| Coupon: | 9.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either component ever closes below buffer level and worst-performing component falls, in which case full exposure to losses
|
| Call: | At par if both underlying components close at or above initial levels on any quarterly call date
|
| Initial level: | 940.28 for Russell, $30.58 for fund
|
| Buffer amount: | 282.084 for Russell, $9.174 for fund; 30% of initial levels
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4%, including 1.5% for selling concessions
|
| Cusip: | 48126DH85
|
© 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.
