Published on 3/1/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $640,000 7.75% autocallable yield notes linked to S&P 500, Russell 2000
By Angela McDaniels
Tacoma, Wash., March 1 - JPMorgan Chase & Co. priced $640,000 of 7.75% autocallable yield notes due March 5, 2013 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 monthly.
The notes will be called automatically at par if both indexes close at or above their initial levels on May 31, 2012, Aug. 31, 2012 or Nov. 30, 2012.
A trigger event will occur if either index falls by more than 30% during the life of the notes.
The payout at maturity will be par unless either index finishes below its initial level and a trigger event has occurred, in which case investors will lose 1% for every 1% that the worst-performing index declines below 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: | $640,000
|
| Maturity: | March 5, 2013
|
| Coupon: | 7.75%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If either index finishes below its initial level and a trigger event has occurred, full exposure to decline of worst-performing index; otherwise, par
|
| Trigger event: | Either index declines by more than buffer amount during life of notes
|
| Call: | Automatically at par if both indexes close at or above their initial levels on May 31, 2012, Aug. 31, 2012 or Nov. 30, 2012
|
| Initial index levels: | 1,372.18 for S&P 500 and 823.8 for Russell 2000
|
| Buffer amounts: | 411.654 for S&P 500 and 247.14 for Russell 2000; 30% of initial levels
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 2
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%, including 1% for selling concessions
|
| Cusip: | 48125VNW6
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
