Published on 5/30/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.48 million 14.25% autocallable yield notes on metals fund, two indexes
By Susanna Moon
Chicago, May 30 - JPMorgan Chase & Co. priced $1.48 million of 14.25% autocallable yield notes due May 31, 2013 linked to the SPDR S&P Metals & Mining exchange-traded fund, the S&P 500 index and the 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 at par if all of the underlying components close at or above their initial levels on any quarterly call date.
A trigger event occurs if any component falls by more than 40% 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 lose 1% for every 1% decline of the worst-performing component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying components: | SPDR S&P Metals & Mining exchange-traded fund, the S&P 500 index and the and Russell 2000 index
|
| Amount: | $1,482,000
|
| Maturity: | May 31, 2013
|
| Coupon: | 14.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If any component finishes below its initial level and any component ever dips below 60% trigger level, exposure to losses of worst-performing component; otherwise, par
|
| Call: | At par if both components close at or above their initial levels on Aug. 28, Nov. 27, 2012 or Feb. 25, 2013
|
| Initial levels: | $40.89 for metals fund, 1,317.82 for S&P and 766.41 for Russell
|
| Buffer amounts: | $16.356 for fund, 527.128 for S&P and 306.564 for Russell; 40% of initial levels
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4%, including 1.5% for selling concessions
|
| Cusip: | 48125VXE5
|
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