By Susanna Moon
Chicago, Feb. 16 - JPMorgan Chase & Co. priced $4.52 million of callable range accrual notes due Feb. 17, 2026 linked to six-month Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 8% per year on each day that six-month Libor is 6.5% or less and the closing level of the S&P 500 is at least 925. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Feb. 17, 2012.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Callable range accrual notes
|
| Amount: | $4,523,000
|
| Maturity: | Feb. 17, 2026
|
| Coupon: | 8% for each day that six-month Libor is 6.5% or less and the S&P 500 closes at or above 925; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date after one year
|
| Pricing date: | Feb. 14
|
| Settlement date: | Feb. 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4.136%, including 2.594% for selling concessions
|
| Cusip: | 48125XCU8
|
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