By Angela McDaniels
Tacoma, Wash., Oct. 7 – JPMorgan Chase & Co. priced $3.29 million of 6% single observation callable yield notes due Oct. 11, 2016 linked to the lesser performing of 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 finishes below its buffer level, 75% of its initial level, in which case investors will be fully exposed to the decline of the worst-performing index.
The notes are callable at par on any interest payment date other than the maturity date.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Single observation callable yield notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $3,285,000
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Maturity: | Oct. 11, 2016
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Coupon: | 6%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless either index’s final level declines from initial level by more than buffer amount, in which case full exposure to decline of worst-performing index
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Call option: | At par on any interest payment date other than maturity date
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Initial index levels: | 1,967.90 for S&P 500 and 1,104.743 for Russell 2000
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Buffer amount: | 491.974 for S&P 500 and 276.18575 for Russell 2000; 25% of initial levels
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Pricing date: | Oct. 3
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Settlement date: | Oct. 10
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 48127DF52
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