Published on 9/27/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.06 million 5.5% autocallable yield notes linked to S&P 500, Russell
By Toni Weeks
San Luis Obispo, Calif., Sept. 27 - JPMorgan Chase & Co. priced $1.06 million of 5.5% autocallable yield notes due Sept. 30, 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.
Interest is payable monthly.
The notes will be called automatically at par plus accrued interest if both indexes close at or above their initial levels on any of three quarterly call dates.
A trigger event will occur if either index falls below the trigger level, 70% of the initial level, on any day during the life of the notes.
The payout at maturity will be par unless a trigger event has occurred and either index closes below its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1,063,000
|
| Maturity: | Sept. 30, 2014
|
| Coupon: | 5.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index falls below trigger level, 70% of initial level, during life of notes and either index finishes below initial level, in which case full exposure to decline of lesser-performing index
|
| Call: | At par if both underlying indexes close at or above initial levels on any quarterly call date; first call date is Dec. 24
|
| Initial levels: | 1,692.77 for S&P 500, 1,073.51 for Russell
|
| Buffer amount: | 507.831 for S&P 500, 322.053 for Russell, 30% of initial levels
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48126NQS9
|
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