By Marisa Wong
Madison, Wis., March 18 - JPMorgan Chase & Co. priced $1.65 million of 8.8% autocallable yield notes due March 21, 2012 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.
The notes will be automatically called at par plus accrued interest if the indexes close above their initial levels on any quarterly call date.
A trigger event will occur if either index falls to below the trigger level, 75% of the initial level, on any trading day.
If a trigger event does not occur or if a trigger event occurs but the return of the least-performing index is positive, the payout at maturity will be par.
If a trigger event occurs and the return of the least-performing index is negative, investors will share in those losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | J.P. Morgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1,652,000
|
| Maturity: | March 21, 2012
|
| Coupon: | 8.8%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If either index falls to or below 75% of initial level during life of the notes and least-performing index return is negative, par plus return of least-performing index; otherwise, par
|
| Initial levels: | 1,256.88 for S&P 500 and 781.90 for Russell 2000
|
| Pricing date: | March 16
|
| Settlement date: | March 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.65%, including 2.25% for selling concessions
|
| Cusip: | 48125XJR8
|
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