Published on 8/24/2011 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.18 million 15.65% callable yield notes linked to Russell 2000, Brazil ETF
By Angela McDaniels
Tacoma, Wash., Aug. 24 - JPMorgan Chase & Co. priced $3.18 million of 15.65% callable yield notes due Aug. 23, 2012 linked to the Russell 2000 index and the iShares MSCI Brazil index fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless either underlying component declines by more than 40% during the life of the notes and either finishes below its initial level, in which case investors will receive par plus the return of the worst-performing underlying component.
The notes are callable at par on Nov. 26, Feb. 26, 2012 and May 26, 2012.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Callable yield notes
|
Underlying components: | Russell 2000 and iShares MSCI Brazil index fund
|
Amount: | $3,177,000
|
Maturity: | Aug. 23, 2012
|
Coupon: | 15.65%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par unless either underlying component declines from its initial level by more than its protection amount during life of notes and either finishes below its initial level, in which case par plus return of worst-performing underlying component
|
Call option: | At par on Nov. 26, Feb. 26, 2012 and May 26, 2012
|
Initial levels: | 651.70 for index and $60.16 for ETF
|
Protection amounts: | 260.68 for Russell and $26.064 for ETF; 40% of initial levels
|
Pricing date: | Aug. 19
|
Settlement date: | Aug. 24
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 2.3%, including 0.4% for selling concessions
|
Cusip: | 48125XN85
|
© 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.