By Marisa Wong
Madison, Wis., July 3 - JPMorgan Chase & Co. priced $1.48 million of callable range accrual notes due July 5, 2027 linked to six-month Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will equal the interest factor times the proportion of days on which six-month Libor is 6% or less and the closing level of the S&P 500 index is at least 1,000. The interest factor is 5.75% for the first six years, 6.25% for years seven through nine, 7% for years 10 through 12 and 8% for years 13 to 15. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable on any interest payment date after one year.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Six-month Libor and S&P 500 index callable range accrual notes
|
| Amount: | $1.48 million
|
| Maturity: | July 5, 2027
|
| Coupon: | Interest factor times proportion of days on which six-month Libor is 6% or less and S&P 500 closes at or above 1,000; interest factor is 5.75% for first six years, 6.25% for years seven through nine, 7% for years 10 through 12 and 8% for years 13 to 15; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates beginning on July 5, 2013
|
| Pricing date: | June 29
|
| Settlement date: | July 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 5.45%, including 2.877% for selling concessions
|
| Cusip: | 48125VYX2
|
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