New Issue: JPMorgan prices $2 million single review notes tied to S&P 500, Russell

By Marisa Wong

Madison, Wis., May 24 - JPMorgan Chase & Co. priced $2 million of 0% single review notes due Sept. 4, 2014 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a premium of 13.65% if each index closes at or above 96% of its initial level on Aug. 29, 2014.

If the notes are not called and the lesser performing index falls by up to 14%, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lesser performing index.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Single review notes
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$2 million
Maturity:	Sept. 4, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless lesser performing index falls by more than 14%, in which case investors will be fully exposed to decline of lesser performing index
Call:	At par plus 13.65% if each index closes at or above call level on Aug. 29, 2014
Initial levels:	1,655.35 for S&P and 982.26 for Russell
Call levels:	1,589.136 for S&P and 942.9696 for Russell, 96% of initial levels
Pricing date:	May 22
Settlement date:	May 28
Agent:	J.P. Morgan Securities LLC
Fees:	1%
Cusip:	48126NBM8

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