By Jennifer Chiou
New York, May 9 - JPMorgan Chase & Co. priced $1 million of 8.25% autocallable yield notes due May 10, 2013 linked to the Russell 2000 index and the Market Vectors Gold Miners 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 both components close at or above their initial levels on any of three call dates.
A trigger event will occur if either component falls by more than 50% during the life of the notes.
The payout at maturity will be par unless either component finishes below its initial level and ever dips below the 50% trigger level, in which case investors will lose 1% for every 1% decline of the worst-performing component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying components: Russell 2000 index and Market Vectors Gold Miners ETF
|
| Amount: | $1 million
|
| Maturity: | May 10, 2013
|
| Coupon: | 8.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If either component falls below 50% of initial level during life of notes and finishes below initial level, 1% loss for every 1% decline of worst-performing component; otherwise, par
|
| Call: | At par if both underlying components close at or above initial levels on any of the quarterly call dates
|
| Initial levels: | $43.67 for Gold Miners, 793.81 for Russell
|
| Buffer amounts: | 50% of initial levels
|
| Pricing date: | May 7
|
| Settlement date: | May 10
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.25%, including 0.25% for selling concessions
|
| Cusip: | 48125VXK1
|
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