By Susanna Moon
Chicago, May 22 - JPMorgan Chase & Co. priced $902,000 of 6% autocallable yield notes due Aug. 24, 2015 linked to the Russell 2000 index and the iShares Nasdaq Biotechnology exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par plus accrued interest if each component closes at or above its initial level on any of four quarterly call dates.
A trigger event will occur if either component closes below its initial level by more than the 37.5% buffer amount on any trading day during the life of the notes.
The payout at maturity will be par unless a trigger event occurs and the return of the worse performing component is negative, in which case investors will share in losses of the worse performing component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying components: | Russell 2000 index, iShares Nasdaq Biotechnology ETF
|
| Amount: | $902,000
|
| Maturity: | Aug. 24, 2015
|
| Coupon: | 6%, payable quarterly
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless either component ever closes down by more than buffer during life of notes and return of worse performing component is negative, in which case full exposure to losses of worse performing component
|
| Call: | At par plus accrued interest if each component closes at or above its initial level on any of four quarterly call dates
|
| Buffer amounts: | 411.71063 for Russell, $85.63875 for fund; 37.5% of initial levels
|
| Pricing date: | May 20
|
| Settlement date: | May 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.35%
|
| Cusip: | 48127DJK5
|
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