Published on 6/28/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.36 million 12.5% autocallable yield notes linked to indexes, ETF
By Angela McDaniels
Tacoma, Wash., June 28 - JPMorgan Chase & Co. priced $3.36 million of 12.5% autocallable yield notes due June 28, 2013 linked to the SPDR S&P Metals & Mining exchange-traded fund, 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 called automatically at par if each underlying closes at or above its initial level on Sept. 25, 2012, Dec. 26, 2012 or March 25, 2013.
A trigger event will occur if any underlying declines by more than 45% during the life of the notes.
The payout at maturity will be par unless any underlying finishes below its initial level and a trigger event has occurred, in which case investors will lose 1% for every 1% that the worst-performing underlying declines below its initial level.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Autocallable yield notes
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Underlyings: | SPDR S&P Metals & Mining ETF, S&P 500 index and Russell 2000 index
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Amount: | $3,362,000
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Maturity: | June 28, 2013
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Coupon: | 12.5%, payable monthly
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Price: | Par
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Payout at maturity: | If any underlying finishes below its initial level and a trigger event has occurred, full exposure to decline of worst-performing underlying; otherwise, par
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Trigger event: | Any underlying declines by more than buffer amount during life of notes
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Call: | Automatically at par if each underlying closes at or above its initial level on Sept. 25, 2012, Dec. 26, 2012 or March 25, 2013
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Initial levels: | $38.40 for ETF, 1,319.99 for S&P 500 and 765.02 for Russell 2000
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Buffer amounts: | $17.28 for ETF, 593.9955 for S&P 500 and 344.259 for Russell 2000; 45% of initial levels
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Pricing date: | June 26
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Settlement date: | June 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.474%, including 1.754% for selling concessions
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Cusip: | 48125VC24
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