By Susanna Moon
Chicago, Aug. 9 - JPMorgan Chase & Co. priced another $1 million of 0% daily liquidity notes due Jan. 9, 2015 linked to the Dow Jones-UBS Crude Oil Sub-Index 3 Month Forward Total Return, according to a 424B2 filing with the Securities and Exchange Commission.
JPMorgan originally priced $60 million of the notes on Jan. 6 and sold $35.8 million of them. By Aug. 5, a total of $60 million of the notes had been sold, of which $22.055 million had then been repurchased and retired, leaving $37.945 million outstanding. With the additional $1 million, there will be $38.945 million outstanding.
The payout at maturity will be the indicative note value on Jan. 6, 2015.
The indicative value of each note was $1,000 on the pricing date. 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 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 0.75% 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 a repurchase fee of 0.2%. They are callable on a daily basis beginning Jan. 11, 2012.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Daily liquidity notes
|
| Underlying index: | Dow Jones - UBS Crude Oil Subindex 3 Month Forward Total Return
|
| Amount: | $61 million, up from $60 million
|
| Maturity: | Jan. 9, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Cash amount equal to indicative note value on Jan. 6, 2015; on any day, indicative note value equals indicative note value on preceding day plus index return minus investor fee of approximately 0.75% per year
|
| Put option: | At any time, subject to repurchase fee of 0.2%
|
| Call option: | Beginning Jan. 11, 2012
|
| Initial index level: | 1,519.449
|
| Pricing date: | Aug. 5 for additional $1 million, Jan. 6 for original $60 million
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48124A7H4
|
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