Published on 4/27/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $78,000 digital contingent coupon notes linked to 10 stocks
By Angela McDaniels
Tacoma, Wash., April 27 - JPMorgan Chase & Co. priced $78,000 of digital contingent coupon notes due April 30, 2018 linked to basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The equally weighted basket includes the common stocks of Altria Group, Inc., Barrick Gold Corp., CenturyLink, Inc., Kinross Gold Corp., Lorillard, Inc., Mead Johnson Nutrition Co., PG&E Corp., Time Warner Cable Inc., Verizon Communications Inc. and Walgreen Co.
Interest is payable annually and will equal the sum of the weighted performances of the basket stocks, subject to a minimum coupon of 0.5% per year.
If a basket stock's underlying return is greater than or equal to zero, its performance will be 8%. If its underlying return is negative, its performance will be the greater of its underlying return and negative 20%.
The payout at maturity will be par.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Digital contingent coupon notes
|
| Underlying stocks: | Altria Group, Inc., Barrick Gold Corp., CenturyLink, Inc., Kinross Gold Corp., Lorillard, Inc., Mead Johnson Nutrition Co., PG&E Corp., Time Warner Cable Inc., Verizon Communications Inc. and Walgreen Co.
|
| Amount: | $78,000
|
| Maturity: | April 30, 2018
|
| Coupon: | Sum of weighted performances of basket stocks, subject to minimum coupon of 0.5% per year; if basket stock's underlying return is greater than or equal to zero, its performance will be 8%, and if its underlying return is negative, its performance will be the greater of its return and negative 20%; payable annually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 7.85%, 4.231% for selling concessions
|
| Cusip: | 48125VTN0
|
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