Published on 6/18/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $566,000 knock-out digital notes tied to S&P, Russell, Gold Miners
By Marisa Wong
Madison, Wis., June 18 - JPMorgan Chase & Co. priced $566,000 of 0% knock-out digital notes due June 19, 2015 linked to the S&P 500 index, Russell 2000 index and Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if any underlying component closes below its initial level by more than 45% on any day during the life of the notes.
If a knock-out event does not occur, the payout at maturity will be par plus 30%. If a knock-out event occurs and each underlying component finishes at or above its initial level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the worst-performing component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Knock-out digital notes
|
| Underlying components: | S&P 500 index, Russell 2000 index and Market Vectors Gold Miners ETF
|
| Amount: | $566,000
|
| Maturity: | June 19, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If a knock-out event does not occur, par plus 30%; if a knock-out event occurs and each underlying component finishes at or above its initial level, par; otherwise, full exposure to decline of worst-performing component
|
| Knock-out event: | Any underlying component closes below its initial level by more than 45% on any day during life of notes
|
| Initial index levels: | 1,626.73 for S&P, 981.38 for Russell, $28.12 for ETF
|
| Buffer amounts: | 732.0285 for S&P, 441.621 for Russell, $12.654 for ETF
|
| Pricing date: | June 14
|
| Settlement date: | June 19
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48126NAG2
|
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