Published on 8/14/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $605,000 autocallable return enhanced notes linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., Aug. 14 - JPMorgan Chase & Co. priced $605,000 of 0% capped autocallable return enhanced notes due Aug. 28, 2013 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the call level, 105% of the initial index level, on any review date, the notes will be automatically called at par plus a call premium. The review dates are every other Monday from Sept. 10, 2012 through Aug. 12, 2013. The call premium is $65 for each $1,000 principal amount of notes and is the same for each review date.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 1.3 times the index return, subject to a maximum return of 6.5%. Otherwise, investors will be fully exposed to the decline in the index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Capped autocallable return enhanced notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $605,000
|
| Maturity: | Aug. 28, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than initial index level, par plus 1.3 times index return, subject to maximum return of 6.5%; otherwise, full exposure to index's decline
|
| Call: | Automatically at $1,065 per $1,000 principal amount if index's closing level is 105% or more of the initial index level on a review date, which are every other Monday from Sept. 10, 2012 through Aug. 12, 2013
|
| Initial index level: | 2,423.22
|
| Pricing date: | Aug. 10
|
| Settlement date: | Aug. 15
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125V2Q2
|
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