Published on 3/5/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $527,000 8.25% autocallable yield notes on Russell, U.S. Oil Fund
By Susanna Moon
Chicago, March 5 - JPMorgan Chase & Co. priced $527,000 of 8.25% autocallable yield notes due March 6, 2013 linked to the Russell 2000 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 will be called at par if both components close at or above their initial levels on any of three call dates.
A trigger event will occur if either component falls by more than 35% during the life of the notes.
The payout at maturity will be par unless either component finishes below its initial level and ever dips below the 65% trigger level, in which case investors will lose 1% for every 1% decline of the worst-performing component.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Autocallable yield notes
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Underlying components: | Russell 2000 index and the United States Oil Fund, LP
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Amount: | $527,000
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Maturity: | March 6, 2013
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Coupon: | 8.25%, payable monthly
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Price: | Par
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Payout at maturity: | If either component finishes below its initial level and ever dips below trigger, exposure to losses of worst-performing index; otherwise, par
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Call: | At par if both components close at or above their initial levels on June 1, Sept. 4 or Dec. 3, 2012
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Initial index levels: | 815.22 for Russell, $41.75 for oil fund
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Buffer amounts: | 285.327 for Russell, $14.6125 for oil fund; 35% of initial levels
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Pricing date: | March 1
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Settlement date: | March 6
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.7%, including 1.7% for selling concessions
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Cusip: | 48125VPF1
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