By Marisa Wong
Madison, Wis., June 28 - JPMorgan Chase & Co. priced $2.16 million of 12% autocallable yield notes due June 28, 2013 linked to the Market Vectors Gold Miners exchange-traded fund 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 both components close at or above their initial levels on any quarterly call date.
A trigger event occurs if either component falls by more than 40% on any day during the life of the notes.
The payout at maturity will be par unless either component finishes below its initial level and a trigger event has occurred, 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
|
| Underlying components: | Market Vectors Gold Miners exchange-traded fund and Russell 2000 index
|
| Amount: | $2,163,000
|
| Maturity: | June 28, 2013
|
| Coupon: | 12%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If either component finishes below its initial level and either component ever dips below 60% trigger level, exposure to losses of worst-performing component; otherwise, par
|
| Call: | At par if both components close at or above their initial levels on Sept. 25, Dec. 26 or March 25, 2013
|
| Initial levels: | $44.45 for gold and 765.02 for Russell
|
| Buffer amounts: | $17.78 for gold and 306.008 for Russell; 40% of initial levels
|
| Pricing date: | June 26
|
| Settlement date: | June 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.5%, including 1.926% for selling concessions
|
| Cusip: | 48125VB90
|
© 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.
