Published on 3/6/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $12.48 million one-year review notes linked to S&P 500
By Toni Weeks
San Diego, March 6 - JPMorgan Chase & Co. priced $12.48 million of 0% review notes due March 20, 2013 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 par plus an annualized call premium of 11% if the index closes at or above the initial index level on any of four quarterly review dates.
If the notes are not called, the payout at maturity will be par if the final index level is at least 90% of the initial level. Otherwise, investors will lose 1.1111% for every 1% that the index declines beyond 10%.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Review notes
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Underlying index: | S&P 500
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Amount: | $12,481,000
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Maturity: | March 20, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par if index return is at least 90% of initial level; 1.1111% loss per 1% drop beyond 10% buffer
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Call: | At par plus annualized call premium of 11% if index closes at or above initial level on June 15, Sept. 17, 2012, Dec. 17, 2012 or March 15, 2013
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Initial level: | 1,369.63
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Pricing date: | March 2
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Settlement date: | March 7
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48125VPK0
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