New Issue: JPMorgan prices $16.36 million 8% callable yield notes on tech stocks

By Susanna Moon

Chicago, April 20 – JPMorgan Chase & Co. priced $16.36 million of 8% callable yield notes due July 24, 2017 linked to the least performing of the common stocks of eBay Inc., Cisco Systems, Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be callable at par on interest payment date other than the first, second and final dates.

The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed any losses of the worst performing stock.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Callable yield notes
Underlying stocks:	eBay Inc. (symbol: EBAY), Cisco Systems, Inc. (symbol: CSCO) and Microsoft Corp. (symbol: MSFT)
Amount:	$16,361,000
Maturity:	July 24, 2017
Coupon:	8%, payable monthly
Price:	Par of $1,000
Payout at maturity:	Par plus final interest payment unless any stocks finishes below its trigger level, in which case full exposure to decline of worst performing stock
Call option:	At par on any interest payment date other than the first, second and final dates
Initial levels:	$25.22 for eBay, $27.90 for Cisco and $55.65 for Microsoft
Trigger levels:	$15.132 for eBay, $16.74 for Cisco and $33.39 for Microsoft; 60% of initial levels
Pricing date:	April 18
Settlement date:	April 25
Agent:	J.P. Morgan Securities LLC
Fees:	2.75%
Cusip:	48128GWL0

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