New Issue: JPMorgan prices $1.8 million 8% autocallable yield notes tied to S&P 500, mining ETF

By Angela McDaniels

Tacoma, Wash., April 18 - JPMorgan Chase & Co. priced $1.8 million of 8% autocallable yield notes due April 19, 2012 linked to the S&P 500 index and the SPDR S&P Metals & Mining exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if each underlying component closes at or above its initial level on July 14, Oct. 14, Jan. 13, 2012 or April 16, 2012.

The payout at maturity will be par unless either underlying component falls below its trigger level - 70% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the worst-performing underlying component, up to a maximum payout of par.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Autocallable yield notes
Underlying components:	S&P 500 and SPDR S&P Metals & Mining exchange-traded fund
Amount:	$1,799,000
Maturity:	April 19, 2012
Coupon:	8%, payable monthly
Price:	Par
Payout at maturity:	If either underlying component falls by more than 30% during the life of the notes, par plus the return of the worst-performing underlying component, capped at par; otherwise, par
Call:	At par if both underlying component close at or above their initial levels on July 14, Oct. 14, Jan. 13, 2012 or April 16, 2012
Initial levels:	1,314.52 for index and $72.09 for ETF
Pricing date:	April 14
Settlement date:	April 19
Agent:	J.P. Morgan Securities LLC
Fees:	3.68%
Cusip:	48125XMR4

© 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.