Published on 4/17/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.45 million 11.5% autocallable yield notes on fund, two indexes
By Marisa Wong
Madison, Wis., April 17 - JPMorgan Chase & Co. priced $1.45 million of 11.5% autocallable yield notes due April 18, 2013 linked to the SPDR S&P Metals & Mining exchange-traded fund, the S&P 500 index 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 the components close at or above their initial levels on any of three call dates.
A trigger event will occur if any component falls by more than 40% on any day during the life of the notes.
The payout at maturity will be par unless a trigger event occurs and any 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
|
| Underlyings: | SPDR S&P Metals & Mining exchange-traded fund, S&P 500 index and Russell 2000 index
|
| Amount: | $1,453,000
|
| Maturity: | April 18, 2013
|
| Coupon: | 11.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any component finishes below its initial level and ever falls by more than buffer amount, in which case 1% loss for every 1% decline of worst-performing component
|
| Call: | Automatically at par if components close at or above initial levels on July 13, Oct. 15 or Jan. 15, 2013
|
| Initial levels: | $48.20 for SPDR ETF, 1,370.26 for S&P, 796.29 for Russell
|
| Buffer amounts: | $19.28 for SPDR ETF, 548.104 for S&P 500, 318.516 for Russell; 40% of initial levels
|
| Pricing date: | April 13
|
| Settlement date: | April 18
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4%, including 1.75% for selling concessions
|
| Cusip: | 48125VUX6
|
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