By Toni Weeks
San Luis Obispo, Calif., March 27 - JPMorgan Chase & Co. priced $5 million of 5% single observation autocallable yield notes due March 30, 2015 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 will be automatically called at par if the closing level of each index is greater than or equal to its respective initial level on any quarterly call date.
If the notes are not called, the payout at maturity will be par if the return of the worst-performing index is negative 30% or higher. If either index falls by more than 30%, investors will be fully exposed to the decline in the worst-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Single observation autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $5 million
|
| Maturity: | March 30, 2015
|
| Coupon: | 5%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Full exposure to decline of worst-performing index if final level of either index is less than 70% of its initial level; otherwise, par
|
| Call: | At par if each index closes above its initial level on any quarterly call date
|
| Initial index levels: | 1,551.69 for S&P 500 and 945.85 for Russell
|
| Buffer levels: | 465.507 for S&P 500 and 283.755 for Russell, 30% of initial levels
|
| Pricing date: | March 25
|
| Settlement date: | March 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.05%
|
| Cusip: | 48126DG78
|
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