By Marisa Wong
Madison, Wis., Feb. 28 - JPMorgan Chase & Co. priced $1.04 million of 5% autocallable yield notes due Feb. 28, 2014 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 automatically called at par plus accrued interest if both indexes close above their initial levels on any of three quarterly call dates.
A trigger event will occur if either index falls below the trigger level, 70% of the initial level, on any trading day during the life of the notes.
If a trigger event does not occur or if it does and the return of the lesser performing index is zero or positive, investors will receive par at maturity.
If a trigger event occurs and the return of the lesser 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: | $1,044,000
|
| Maturity: | Feb. 28, 2014
|
| Coupon: | 5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If neither index falls below 70% of initial level during life of notes, par; if trigger event occurs and return of lesser performing index is zero or positive, par; full exposure to losses if trigger event occurs and return of lesser performing index is negative
|
| Call: | At par if both underlying indexes close at or above initial levels on May 28, Aug. 28 or Nov. 26, 2013
|
| Initial levels: | 1,487.85 for S&P, 895.84 for Russell
|
| Buffer levels: | 446.355 for S&P, 268.752 for Russell, 30% of initial levels
|
| Pricing date: | Feb. 25
|
| Settlement date: | Feb. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.55%
|
| Cusip: | 48126DVT3
|
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