Published on 1/25/2011 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $25.01 million autocallable return enhanced notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Jan. 25 - JPMorgan Chase & Co. priced $25.01 million of 0% autocallable return enhanced notes due Feb. 8, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at 108.1% of par if the index closes at or above 104.05% of its initial level on April 21, July 21 or Oct. 21, 2011.
If the notes are not called and the final index level is greater than the initial index level, the payout at maturity will be par plus double the index return, subject to a maximum return of 8.1%. Investors will be exposed to any index decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable return enhanced notes
|
| Underlying index: | S&P 500
|
| Amount: | $25,013,000
|
| Maturity: | Feb. 8, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any index gain, up to maximum return of 8.1%; exposure to any index decline
|
| Call: | Automatically at 108.1% of par if index closes at or above 104.05% of its initial level on April 21, July 21 or Oct. 21, 2011
|
| Initial index level: | 1,283.35
|
| Final index level: | Average of index's closing levels on the five trading days ending Feb. 3, 2012
|
| Pricing date: | Jan. 21
|
| Settlement date: | Jan. 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125XBS4
|
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