By Toni Weeks
San Diego, June 5 - JPMorgan Chase & Co. priced $6.06 million of 8.5% autocallable yield notes due June 6, 2013 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 three quarterly call dates. The call dates are Aug. 31, Dec. 3, 2012 and March 1, 2013.
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 or if it does and the return of the least-performing index is zero or positive, 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 is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $6,063,000
|
| Maturity: | June 6, 2013
|
| Coupon: | 8.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If neither index falls below 65% of initial level during life of notes, par; if trigger event occurs and return of worst-performing index is zero or positive, par; full exposure to losses if a trigger event occurs and return of worst-performing index is negative
|
| Call: | At par if both underlying indexes close at or above initial levels on Aug. 31, Dec. 3, 2012 and March 1, 2013
|
| Initial levels: | 1,278.04 for S&P 500 and 737.42 for Russell
|
| Buffer amount: | 447.314 for S&P 500, 258.097 for Russell, 35% of initial levels
|
| Pricing date: | June 1
|
| Settlement date: | June 6
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.501%, including 1.75% for selling concessions
|
| Cusip: | 48125VA34
|
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