JPMorgan plans 0% semiannual review notes on Market Vectors Gold

By Susanna Moon

Chicago, Aug. 2 - JPMorgan Chase & Co. plans to price 0% semiannual review notes due Feb. 29, 2012 based on the performance of the Market Vectors Gold Miners exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will be automatically called at increasing premiums if the fund is at or above its initial price on any of three semiannual review dates.

The redemption amount will be par plus at least 8% if the notes are called on Feb. 23, 2011, par plus at least 16% if called on Aug. 26, 2011 and 24% if called on Feb. 24, 2012. The exact call premiums will be set at pricing.

If the notes are not called, investors will receive par if the fund shares fall by up to the contingent buffer amount of 30% and will share fully in losses for a decline beyond 30%.

The notes (Cusip 48124AXY8) are expected to price on Aug. 26 and settle on Aug. 31.

J.P. Morgan Securities Inc. is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.