By Marisa Wong
Madison, Wis., May 21 - JPMorgan Chase & Co. priced $1.07 million of 10.5% autocallable yield notes due May 21, 2014 linked to 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 at par plus accrued interest if both components close above their initial levels on any quarterly call date.
A trigger event will occur if either component closes below the 60% trigger level on any trading day during the life of the notes.
The payout at maturity will be par unless a trigger event occurs and the return of the lesser performing component is negative, in which case investors will share in the losses of the lesser performing component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying components: | Market Vectors Gold Miners ETF and the Russell 2000 index
|
| Amount: | $1,067,000
|
| Maturity: | May 21, 2014
|
| Coupon: | 10.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either component ever closes below initial level by more than buffer and lesser performing component falls, in which case full exposure to decline of lesser performing component
|
| Call: | At par if both underlying components close at or above initial levels on any quarterly call date
|
| Initial level: | 996.28 for Russell, $26.38 for fund
|
| Buffer amount: | 398.512 for Russell, $10.552 for fund; 40% of initial levels
|
| Pricing date: | May 17
|
| Settlement date: | May 22
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%, all for selling concessions
|
| Cusip: | 48126D5C9
|
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