Published on 12/7/2010 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.3 million 7% callable yield notes tied to S&P 500, U.S. Oil Fund
By Marisa Wong
Madison, Wis., Dec. 7 - JPMorgan Chase & Co. priced $2.3 million of 7% annualized callable yield notes due June 8, 2011 linked to the S&P 500 index and the United States Oil Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on March 8.
The payout at maturity will be par unless either index or fund falls to or below its knock-in level - 75% of its initial level - during the life of the notes and finishes below the initial level, in which case investors will receive par plus the return of the worse performing underlying index or fund.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Callable yield notes
|
Underlying components: | S&P 500 index and the United States Oil Fund, LP
|
Amount: | $2,297,000
|
Maturity: | June 8, 2011
|
Coupon: | 7% per year, payable monthly
|
Price: | Par
|
Payout at maturity: | If either index or fund falls to or below 75% of its initial level during the life of the notes and finishes below its initial level, par plus the return of the worse performing index or fund; otherwise, par
|
Call option: | At par on March 8
|
Initial levels: | 1,224.71for S&P 500; $38.32 for U.S. Oil
|
Pricing date: | Dec. 3
|
Settlement date: | Dec. 8
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 3.45%, including 1.75% for selling concessions
|
Cusip: | 48124A4F1
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.