By Marisa Wong
Madison, Wis., July 30 - JPMorgan Chase & Co. priced $1.4 million of 10% autocallable yield notes due July 31, 2013 linked to the lesser performing of the Market Vectors Gold Miners exchange-traded fund 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 if each underlying closes at or above its initial level on Oct. 26, Jan. 28 or April 25, 2013.
A trigger event will occur if either underlying declines by more than 40% on any day during the life of the notes.
The payout at maturity will be par unless either underlying finishes below its initial level and a trigger event has occurred, in which case investors will lose 1% for every 1% that the worse-performing component declines below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlyings: | Market Vectors Gold Miners exchange-traded fund and Russell 2000 index
|
| Amount: | $1,395,000
|
| Maturity: | July 31, 2013
|
| Coupon: | 10%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If either underlying finishes below its initial level and a trigger event has occurred, full exposure to decline of worse-performing component; otherwise, par
|
| Trigger event: | Either underlying declines by more than buffer amount during life of notes
|
| Call: | Automatically at par if each underlying closes at or above its initial level on Oct. 26, Jan. 28 or April 25, 2013
|
| Initial levels: | $42.83 for ETF and 777.11 for Russell
|
| Buffer amounts: | $17.132 for ETF and 310.844 for Russell, 40% of initial levels
|
| Pricing date: | July 26
|
| Settlement date: | July 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.9%, including 2.094% for selling concessions
|
| Cusip: | 48125VP95
|
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