Published on 8/30/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $8.56 million review notes linked to EAFE ETF, S&P 500, Russell 2000
By Angela McDaniels
Tacoma, Wash., Aug. 30 - JPMorgan Chase & Co. priced $8.56 million of 0% review notes due Aug. 31, 2016 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE index fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium if each underlying component closes at or above its initial level on Sept. 26, 2014, Aug. 27, 2015 or Aug. 29, 2016. The call premium is 12% for the first call date, 24% for the second call date and 36% for the third call date.
If the notes have not been called and the final level of each underlying component is less than its initial level by up to 30%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final level of the worst-performing underlying component is less than its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Review notes
|
| Underlyings: | S&P 500 index, Russell 2000 index and iShares MSCI EAFE index fund
|
| Amount: | $8,556,000
|
| Maturity: | Aug. 31, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of each underlying component is less than initial level by up to 30%, par; otherwise, 1% loss for every 1% that final level of worst-performing underlying component is less than initial level
|
| Call: | Automatically at par plus call premium of 12% per year if each underlying component closes at or above its initial level on Sept. 26, 2014, Aug. 27, 2015 or Aug. 29, 2016
|
| Initial levels: | 1,634.96 for S&P 500; 1,016.50 for Russell 2000; $60.02 for fund
|
| Pricing date: | Aug. 28
|
| Settlement date: | Aug. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 48126NNW3
|
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