Published on 1/30/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.3 million 10% upside autocallables linked to ArcelorMittal
By Angela McDaniels
Tacoma, Wash., Jan. 30 - JPMorgan Chase & Co. priced $1.3 million of 10% upside autocallable single observation reverse exchangeable notes due Jan. 31, 2013 linked to the common stock of ArcelorMittal, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if ArcelorMittal stock closes above the initial share price on April 27, 2012, July 26, 2012 or Oct. 26, 2012.
The payout at maturity will be par unless the final share price is less than the initial share price by more than 50%, in which case the payout will be a number of ArcelorMittal 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
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| Underlying stock: | ArcelorMittal (NYSE: MT)
|
| Amount: | $1.3 million
|
| Maturity: | Jan. 31, 2013
|
| Coupon: | 10%, 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 45.8716 ArcelorMittal shares or, at JPMorgan's option, a cash amount equal to the value of those shares
|
| Call: | Automatically at par if ArcelorMittal stock closes above initial share price on April 27, 2012, July 26, 2012 or Oct. 26, 2012
|
| Initial share price: | $21.80
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| Buffer amount: | $10.90, 50% of initial price
|
| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.781%, including 3.012% for selling concessions
|
| Cusip: | 48125VJU5
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