Published on 12/28/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.26 million 9.25% callable yield notes linked to fund, two indexes
By Toni Weeks
San Diego, Dec. 27 - JPMorgan Chase & Co. priced $3.26 million of 9.25% callable yield notes due Dec. 27, 2013 linked to the S&P 500 index, the Russell 2000 index and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
A trigger event occurs if any underlying component falls by more than 40% from its initial level during the life of the notes.
The payout at maturity will be par unless any component finishes below its initial level and a trigger event has occurred, in which case investors will receive par plus the return of the worst-performing component.
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.
|
| Issue: | Callable yield notes
|
| Underlying components: | S&P 500 index, Russell 2000 index and Market Vectors Gold Miners exchange-traded fund
|
| Amount: | $3,261,000
|
| Maturity: | Dec. 27, 2013
|
| Coupon: | 9.25% per year, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par, unless any component falls by 40% or more during the life of the notes and finishes below initial level, in which case par plus return of worst-performing component
|
| Initial levels: | 1,430.15 for S&P, 847.92 for Russell, $45.18 for Gold Miners
|
| Buffer amounts: | 572.06 for S&P 500, 339.168 for Russell, $18.072 for Gold Miners; 40% of initial levels
|
| Call option: | At par on any monthly interest payment date beginning Jan. 27
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.309%, including 1% for selling concessions
|
| Cusip: | 48126DPN3
|
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