By Angela McDaniels
Seattle, Aug. 8 - JPMorgan Chase & Co. priced a $5 million issue of callable leveraged floating-rate notes due Aug. 13, 2022 linked to Libor and the Sifma Municipal Swap index (formerly the BMA Municipal Swap index), according to a 424B2 filing with the Securities and Exchange Commission.
Interest will equal 10% plus 10 times the difference between 67% of the average weekly Libor rate and the average Sifma index level. The interest rate is subject to a floor of 0%.
Interest, if applicable, is payable quarterly.
The notes are callable at par plus accrued interest on the 13th day of February, May, August and November of each year beginning on Aug. 13, 2011.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Callable leveraged floating-rate notes
|
| Amount: | $5 million
|
| Maturity: | Aug. 13, 2022
|
| Coupon: | Equal to 10% plus 10 times the difference between 67% of the average weekly Libor rate and the average Sifma Municipal Swap index level; floor of 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus accrued interest, if any
|
| Call: | At par plus accrued interest on the 13th day of February, May, August and November of each year beginning Aug. 13, 2011
|
| Pricing date: | Aug. 6
|
| Settlement date: | Aug. 13
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | None
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