Published on 8/15/2011 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.11 million notes linked to four currencies
By Angela McDaniels
Tacoma, Wash., Aug. 15 - JPMorgan Chase & Co. priced $1.11 million of 0% notes due Aug. 14, 2014 linked to a basket of currencies relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the Brazilian real, the Australian dollar, the Norwegian krone and the Canadian dollar.
The payout at maturity will be par plus the basket return, subject to a maximum return of 70%. Investors will receive at least par.
The basket's return will be positive if it appreciates relative to the U.S. dollar.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Notes
|
| Underlying currencies: | Brazilian real, Australian dollar, Norwegian krone and Canadian dollar, equally weighted
|
| Amount: | $1,106,000
|
| Maturity: | Aug. 14, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus basket return, subject to minimum payout of par and maximum payout of $1,700 per $1,000 principal amount
|
| Initial exchange rates: | 1.631 for real; 1.027 for Australian dollar; 5.335 for Norwegian krone; 0.9885 for Canadian dollar
|
| Pricing date: | Aug. 11
|
| Settlement date: | Aug. 16
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.316%
|
| Cusip: | 48125XZW9
|
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