Published on 3/9/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.64 million buffered return enhanced notes linked to gold, silver ETFs
By Angela McDaniels
Tacoma, Wash., March 9 - JPMorgan Chase & Co. priced $3.64 million of 0% buffered return enhanced notes due March 12, 2014 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the SPDR Gold Trust with a 40% weight as well as the iShares Silver Trust, the Market Vectors Gold Miners ETF and the Market Vectors Junior Gold Miners ETF, each with a 20% weight.
If the basket return is positive, the payout at maturity will be par plus double the basket return, subject to a maximum return of 23.35%. Investors will receive par if the basket declines by 12.5% or less and will lose 1% for every 1% that the basket declines beyond 12.5%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Buffered return enhanced notes
|
| Underlying ETFs: | SPDR Gold Trust (40% weight), iShares Silver Trust (20% weight), Market Vectors Gold Miners ETF (20% weight) and Market Vectors Junior Gold Miners ETF (20% weight)
|
| Amount: | $3,641,000
|
| Maturity: | March 12, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus 200% of basket return, up to maximum return of 23.35%; par if basket declines by 12.5% or less; 1% loss for every 1% that basket declines beyond 12.5%
|
| Initial share prices: | $162.71 for SPDR Gold Trust; $32.02 for iShares Silver Trust; $52.45 for Market Vectors Gold Miners ETF; $25.87 for Market Vectors Junior Gold Miners ETF
|
| Pricing date: | March 7
|
| Settlement date: | March 12
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%, including 0.25% for selling concessions
|
| Cusip: | 48125VQD5
|
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