New Issue: JPMorgan prices $2.41 million 8% autocallable yield notes on Russell, MSCI Brazil

By Susanna Moon

Chicago, July 14 - JPMorgan Chase & Co. priced $2.41 million of 8% autocallable yield notes due Jan. 18, 2012 linked to the Russell 2000 index and the SPDR S&P Metals & Mining exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if each underlying component closes above its initial level on Oct. 12.

The payout at maturity will be par unless either underlying component falls below its trigger level - 70% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the worst-performing underlying component, up to a maximum payout of par.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Autocallable yield notes
Underlying components:	Russell 2000 and SPDR S&P Metals & Mining exchange-traded fund
Amount:	$2,405,000
Maturity:	Jan. 18, 2012
Coupon:	8%, payable monthly
Price:	Par
Payout at maturity:	If either underlying component falls by more than 30% during the life of the notes, par plus the return of the worst-performing underlying component, capped at par; otherwise, par
Call:	At par if components close above initial levels on Oct. 12
Initial levels:	829.77 for Russell and $67.68 for SPDR metals
Protection amounts:	248.931 for Russell and $20.304 for SPDR metals, 30% of initial levels
Pricing date:	July 12
Settlement date:	July 15
Agent:	J.P. Morgan Securities LLC
Fees:	3.15%, including 2.25% for selling concessions
Cusip:	48125XXA9

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