Published on 5/24/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2 million single review notes tied to S&P 500, Russell
By Marisa Wong
Madison, Wis., May 24 - JPMorgan Chase & Co. priced $2 million of 0% single review notes due Sept. 4, 2014 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 13.65% if each index closes at or above 96% of its initial level on Aug. 29, 2014.
If the notes are not called and the lesser performing index falls by up to 14%, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lesser performing index.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Single review notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $2 million
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Maturity: | Sept. 4, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless lesser performing index falls by more than 14%, in which case investors will be fully exposed to decline of lesser performing index
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Call: | At par plus 13.65% if each index closes at or above call level on Aug. 29, 2014
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Initial levels: | 1,655.35 for S&P and 982.26 for Russell
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Call levels: | 1,589.136 for S&P and 942.9696 for Russell, 96% of initial levels
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Pricing date: | May 22
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Settlement date: | May 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48126NBM8
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