By Toni Weeks
San Diego, Sept. 13 - JPMorgan Chase & Co. priced $2.58 million of 9.75% autocallable yield notes due March 15, 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 called automatically at par plus accrued interest if the indexes close above their initial levels on Dec. 9.
A trigger event will occur if either index falls below the trigger level, 65% of the initial level, on any trading day.
If a trigger event does not occur, investors will receive par at maturity.
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 will be the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2,578,000
|
| Maturity: | March 15, 2012
|
| Coupon: | 9.75%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par, if a trigger event does not occur; full exposure to losses if a trigger event occurs and the return of the worst-performing index is negative
|
| Call: | At par if both underlying indexes close at or above initial levels on Dec. 9
|
| Initial levels: | 1,154.23 for S&P 500 and 673.96 for Russell
|
| Protection amount: | 35% of initial levels
|
| Pricing date: | Sept. 9
|
| Settlement date: | Sept. 14
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.88%, including 2.25% for selling concessions
|
| Cusip: | 48125XT89
|
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