Published on 5/30/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.97 million 6% autocallable yield notes linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., May 30 - JPMorgan Chase & Co. priced $2.97 million of 6% autocallable yield notes due Aug. 29, 2014 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 automatically called at par plus accrued interest if both indexes close at or above their initial levels on any quarterly call date.
A trigger event will occur if either index falls below the 70% trigger level on any trading day during the life of the notes.
The payout at maturity will be par unless a trigger event occurs and the return of the least-performing index is negative, in which case investors will share in the decline of the least-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 index and the Russell 2000 index
|
| Amount: | $2,968,000
|
| Maturity: | Aug. 29, 2014
|
| Coupon: | 6%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index declines by more than buffer amount during life of notes and worst-performing index finishes below initial level, in which case full exposure to decline of worst-performing index
|
| Call: | Automatically at par if both underlying indexes close at or above initial levels on Aug. 28, 2013, Nov. 26, 2013, Feb. 25, 2014 or May 28, 2014
|
| Initial index levels: | 1,660.06 for S&P 500 and 997.35 for Russell 2000
|
| Buffer amounts: | 498.018 for S&P 500 and 299.205 for Russell 2000; 30% of initial levels
|
| Pricing date: | May 28
|
| Settlement date: | May 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48126D3B3
|
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