Published on 5/31/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1 million 12.25% upside autocallables linked to Hertz
By Angela McDaniels
Tacoma, Wash., May 31 - JPMorgan Chase & Co. priced $1 million of 12.25% upside autocallable single observation reverse exchangeable notes due May 31, 2013 linked to the common stock of Hertz Global Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Hertz stock closes above the initial share price on Aug. 28, 2012, Nov. 27, 2012 or Feb. 25, 2013.
The payout at maturity will be par unless the final share price is less than the initial share price by more than 45%, in which case the payout will be a number of Hertz shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, a cash amount equal to the value of those shares.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Upside autocallable single observation reverse exchangeable notes
|
| Underlying stock: | Hertz Global Holdings, Inc. (NYSE: HTZ)
|
| Amount: | $1 million
|
| Maturity: | May 31, 2013
|
| Coupon: | 12.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than initial price by more than buffer amount, in which case 72.2022 Hertz shares or, at JPMorgan's option, cash amount equal to value of those shares
|
| Call: | Automatically at par if Hertz stock closes above initial share price on Aug. 28, 2012, Nov. 27, 2012 or Feb. 25, 2013
|
| Initial share price: | $13.85
|
| Buffer amount: | $6.2325, 45% of initial price
|
| Pricing date: | May 29
|
| Settlement date: | May 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.75%, including 3% for selling concessions
|
| Cusip: | 48125VYT1
|
© 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.
