By Jennifer Chiou
New York, Aug. 29 - JPMorgan Chase & Co. priced $1,317,000 of 5% autocallable yield notes due Sept. 2, 2014 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If each index closes at or above its initial level on any call date, the notes will be automatically called at par plus accrued interest. The quarterly call dates begin on Nov. 26.
The payout at maturity will be par unless either index closes below its initial level by more than 30% on any day during the life of the notes and either index finishes below the initial level, in which case the payout will be the return of the worse performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1,317,000
|
| Maturity: | Sept. 2, 2014
|
| Coupon: | 5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index ever closes below initial level by more than buffer during life of notes and either index finishes below initial level, in which case full exposure to losses of worse performing index
|
| Call: | Automatically at par plus accrued interest if each index closes at or above its initial level on and quarterly call dates beginning on Nov. 26
|
| Initial index levels: | 1,630.48 for S&P and 1,013.49 for Russell
|
| Buffer amounts: | 489.144 for S&P and 304.047 for Russell, 30% of initial levels
|
| Pricing date: | Aug. 27
|
| Settlement date: | Aug. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48126NLP0
|
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