By Susanna Moon
Chicago, Oct. 24 - JPMorgan Chase & Co. priced $635,000 of 6.8% autocallable yield notes due Oct. 24, 2014 linked to the worse performing of the iShares MSCI Emerging Markets 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 plus accrued interest if each component closes at or above its initial level on any quarterly call date.
A trigger event will occur if either component closes below the trigger level, 68% of the initial level, on any day during the life of the notes.
The payout at maturity will be par unless a trigger event has occurred and either component closes below its initial level, in which case investors will be fully exposed to any losses of the worse performing.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying components: | iShares MSCI Emerging Markets ETF and Russell 2000
|
| Amount: | $635,000
|
| Maturity: | Oct. 24, 2014
|
| Coupon: | 6.8%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either component falls and closes below trigger level during life of notes, in which case full exposure to losses of worse performing component
|
| Call: | At par if both underlying components close at or above initial levels on any quarterly call date
|
| Initial levels: | $43.66 for EM fund, 1,115.63 for Russell
|
| Buffer amount: | $13.9712 for EM fund, 357.0016 for Russell, 32% of initial levels
|
| Pricing date: | Oct. 22
|
| Settlement date: | Oct. 25
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.25%
|
| Cusip: | 48126NXK8
|
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