New Issue: JPMorgan prices $1.03 million quarterly review notes tied to palladium

By Marisa Wong

Madison, Wis., Nov. 28 - JPMorgan Chase & Co. priced $1.03 million of 0% quarterly review notes due Dec. 5, 2013 linked to palladium, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus an annualized call premium of 11.5% if the price of palladium is greater than or equal to the commodity strike price on any quarterly review date.

If the notes are not called, the payout at maturity will be par if the final palladium price is at least 80% of the strike price. Otherwise, investors will lose 1% for every 1% that palladium drops below the strike price.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Quarterly review notes
Underlying commodity:	Palladium
Amount:	$1.03 million
Maturity:	Dec. 5, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	Par if final price is at least 80% of strike price; otherwise, full exposure to losses
Call:	Automatically at par plus premium if palladium price is at or above strike price on any quarterly review date; premium is 2.875% if called on Feb. 26, 5.75% if called on May 28, 8.625% if called on Aug. 26, 2013 and 11.5% if called on Dec. 2, 2013;
Strike price:	$667.50
Pricing date:	Nov. 26
Settlement date:	Nov. 29
Agent:	J.P. Morgan Securities LLC
Fees:	1%
Cusip:	48126DLQ0

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