Published on 7/15/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3 million three-year trigger PLUS linked to commodities basket
By Toni Weeks
San Luis Obispo, Calif., July 15 – JPMorgan Chase & Co. priced $3 million of 0% trigger Performance Leveraged Upside Securities due Jan. 17, 2017 linked to a basket of equally weighted commodities and futures contracts on commodities, according to an FWP filing with the Securities and Exchange Commission.
The underlying components are the WTI crude oil futures contract, RBOB gasoline futures contract, copper, palladium and the soybean futures contract.
The payout at maturity will be par plus 207% of any basket gain.
Investors will receive par if the basket falls by up to 20% and will be fully exposed to any losses if the basket finishes below the 80% trigger level.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC as dealer.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying basket: | WTI crude oil futures contracts, RBOB gasoline futures contracts, copper, palladium and soybean futures contracts
|
| Amount: | $3 million
|
| Maturity: | Jan. 17, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 207% of any basket gain; par if basket falls by up to 20% and full exposure to losses if basket drops below trigger level
|
| Initial levels: | $100.83 for the WTI crude contract, $2.9085 for the RBOB gasoline contract, $7,151.00 for copper, $867.00 for palladium and 1,195.75 cents for the soybean contract
|
| Initial basket level: | 100
|
| Trigger level: | 80% of initial basket level
|
| Pricing date: | July 11
|
| Settlement date: | July 16
|
| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Smith Barney LLC as dealer
|
| Fees: | 0.8%
|
| Cusip: | 48127DSN9
|
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