Published on 10/18/2011 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.1 million 9.7% callable yield notes linked to S&P 500, oil fund
By Toni Weeks
San Diego, Oct. 18 - JPMorgan Chase & Co. priced $3.1 million of 9.7% annualized callable yield notes due April 19, 2012 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 plus accrued interest on Jan. 19, 2012.
A trigger event will occur if either index falls below the trigger level, 60% of the initial level, during the life of the notes.
The payout at maturity will be par, unless a trigger event has occurred and the ending level of either component is less than the initial level, in which case investors will lose 1% for every 1% decline in the worst-performing component.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Callable yield notes
|
Underlying components: S&P 500 and United States Oil Fund, LP
|
Amount: | $3,098,000
|
Maturity: | April 19, 2012
|
Coupon: | 9.7%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par, unless a trigger event occurs during life of notes and final level of worst-performing component is less than initial level, in which case full exposure to decline in worst-performing component
|
Call option: | At par on Jan. 19, 2012
|
Initial levels: | 1,224.58 for S&P 500 and $33.87 for fund
|
Protection amount: | 489.832 for S&P 500, $13.548 for fund, 40% of initial levels
|
Pricing date: | Oct. 14
|
Settlement date: | Oct. 19
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 2.5%, including 1% for selling concessions
|
Cusip: | 48125X6L5
|
© 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.