Published on 5/21/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.56 million 4.9% single observation callable notes on two indexes
By Marisa Wong
Madison, Wis., May 21 - JPMorgan Chase & Co. priced $4.56 million of 4.9% single observation callable yield notes due Nov. 20, 2014 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 quarterly.
If the final level of either underlying index is less than 75% of its initial level, the payout at maturity will be par plus the return of the worse-performing index. Otherwise, the payout will be par.
The notes are callable at par on any interest payment date other than the maturity date.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Single observation callable yield notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $4,555,000
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Maturity: | Nov. 20, 2014
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Coupon: | 4.9%, payable quarterly
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Price: | Par
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Payout at maturity: | Full exposure to decline of worse-performing index if final level of either index is less than 75% of its initial level; otherwise, par
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Call option: | At par on any interest payment date other than the maturity date
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Initial index levels: | 1,667.47 for S&P 500 and 996.28 for Russell
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Buffer amounts: | 416.8675 for S&P 500 and 249.07 for Russell, 25% of initial levels
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Pricing date: | May 17
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Settlement date: | May 24
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%, all for selling concessions
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Cusip: | 48126D5D7
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