New Issue: JPMorgan prices $5.27 million 7.5% callable yield notes on two indexes

By Marisa Wong

Madison, Wis., July 31 - JPMorgan Chase & Co. priced $5.27 million of 7.5% single observation callable yield notes due Nov. 4, 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 quarterly.

The notes are callable at par on any interest payment date.

The payout at maturity will be par unless either underlying index finishes below the 70% trigger level, in which case the payout will be par plus the return of the worse-performing index.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Single observation callable yield notes
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$5,266,000
Maturity:	Nov. 4, 2013
Coupon:	7.5%, payable quarterly
Price:	Par
Payout at maturity:	Par unless either index finishes below trigger level, in which case par plus return of the worse-performing index
Call option:	At par on any interest payment date
Initial index levels:	1,385.97 for S&P and 796.00 for Russell
Buffer levels:	415.791 for S&P and 238.80 for Russell, 30% of initial levels
Pricing date:	July 27
Settlement date:	Aug. 3
Agent:	J.P. Morgan Securities LLC
Fees:	2.78%, including 1.5% for selling concessions
Cusip:	48125VN55

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