Published on 5/23/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.94 million 8.2% autocallable yield notes on iShares EM, Russell
By Toni Weeks
San Diego, May 23 - JPMorgan Chase & Co. priced $2.94 million of 8.2% autocallable yield notes due May 24, 2013 linked to the iShares MSCI Emerging Markets index fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each of the components closes at or above its initial level on any of five bi-monthly call dates.
A trigger event will occur if any component falls by more than 50% during the life of the notes.
The payout at maturity will be par unless a trigger event has occured and either component finishes below its initial 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.
|
| Issue: | Autocallable yield notes
|
| Underlying components: | iShares MSCI Emerging Markets index fund and Russell 2000 index
|
| Amount: | $2,935,000
|
| Maturity: | May 24, 2013
|
| Coupon: | 8.2%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If any component falls below 50% of initial level during life of notes and finishes below initial level, 1% loss for every 1% decline of worst-performing component; otherwise, par
|
| Call: | At par if each underlying component closes at or above initial levels on July 19, Sept. 19, Nov. 20, 2012, Jan. 18, 2013 and March 20, 2013
|
| Initial levels: | $38.19 for iShares EM and 764.64 for Russell
|
| Protection amounts: | $19.095 for iShares EM and 382.32 for Russell, 50% of initial levels
|
| Pricing date: | May 21
|
| Settlement date: | May 24
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.75%, including 2.25% for selling concessions
|
| Cusip: | 48125VWR7
|
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