New Issue: JPMorgan prices $1.1 million 5.15% callable yield notes on S&P 500, Russell 2000

By Toni Weeks

San Luis Obispo, Calif., Jan. 28 - JPMorgan Chase & Co. priced $1.1 million of 5.15% single observation callable yield notes due July 31, 2015 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 quarterly.

The payout at maturity will be par unless either index falls by more than 25% on the July 24, 2015 final observation date, in which case investors will be fully exposed to the decline of the worst-performing index.

The notes may be called at par on any interest payment date other than the maturity date.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Single observation callable yield notes
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$1.1 million
Maturity:	July 31, 2015
Coupon:	5.15%, payable quarterly
Price:	Par
Payout at maturity:	Full exposure to decline of worst-performing index if final level of either index is less than 75% of its initial level; otherwise, par
Call option:	At par on any interest payment date other than the maturity date
Initial levels:	1,790.29 for S&P 500, 1,144.13 for Russell
Buffer levels:	447.5725 for S&P 500 and 286.0325 for Russell, 25% of initial levels
Pricing date:	Jan. 24
Settlement date:	Jan. 31
Agent:	J.P. Morgan Securities LLC
Fees:	1.5%
Cusip:	48126NU88

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