By Toni Weeks
San Diego, Dec. 5 - JPMorgan Chase & Co. priced an additional $20 million principal amount of 0% daily liquidity notes due Aug. 31, 2016 linked to the S&P GSCI Gold Index Total Return, according to a 424B2 filing with the Securities and Exchange Commission.
The company issued $15 million of the notes on Aug. 30. As of Dec. 1, it had repurchased $4,175,000 of the notes, leaving $10,825,000 principal amount outstanding. After giving effect to the $20 million add-on, the outstanding principal amount of notes will be $30,825,000.
The payout at maturity will be the indicative value of the notes, which was par at pricing. On each subsequent trading day, it equals the indicative note value on the preceding day multiplied by the index factor and minus the investor fee. The indicative note value cannot be less than zero.
The index factor equals the index closing level on that day divided by the index closing level on the preceding day.
On any trading day, the investor fee equals 0.4% of the indicative note value on the preceding day multiplied by the quotient of the number of calendar days from the preceding trading day to the current trading day divided by 360.
The notes are putable at any time, subject to the investor fee, and are callable after one year.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Daily liquidity notes
|
| Underlying index: | S&P GSCI Gold Index Total Return
|
| Amount priced: | $35 million, increased from $15 million
|
| Amount outstanding: | $30,825,000
|
| Maturity: | Aug. 31, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Cash amount equal to indicative note value on Aug. 26, 2016; on any day, indicative note value equals indicative note value on preceding day plus index return less investor fee
|
| Put option: | At any time, subject to fee
|
| Call option: | Beginning Aug. 30, 2012
|
| Initial index level: | 972.8832
|
| Pricing dates: | Aug. 25 for $15 million; Dec. 1 for $20 million
|
| Settlement dates: | Aug. 30 for $15 million; Dec. 5 for $20 million
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48125XQ82
|
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