By Toni Weeks
San Luis Obispo, Calif., Jan. 30 - JPMorgan Chase & Co. priced $1.54 million of autocallable contingent interest notes due Feb. 2, 2015 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying index closes at or above the 70% barrier level on a quarterly review date, the notes will pay a coupon at an annualized rate of 7% for that quarter.
If each index closes at or above its initial level on any review date other than the final review date, the notes will be called at par plus the coupon.
A trigger event occurs if either underlying index closes below the 70% trigger level during the life of the notes.
If the notes have not been called and a trigger event has not occurred or each index finishes at or above its initial level, the payout at maturity will be par.
If either underlying index finishes below its initial level and a trigger event has occurred, investors will lose 1% for every 1% decline in the lesser-performing underlying index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $1,544,000
|
| Maturity: | Feb. 2, 2015
|
| Coupon: | 7% per year, payable quarterly if each underlying index closes at or above barrier level on a quarterly review date
|
| Price: | Par
|
| Payout at maturity: | If both indexes never close below trigger level during life of notes or each index finishes at or above its initial level, par; otherwise, investors will lose 1% for every 1% decline in lesser-performing underlying index from its initial level
|
| Call: | At par plus coupon if each index closes at or above its initial level on any review date other than final review date
|
| Initial levels: | 1,792.5 for S&P 500, 1,138.24 for Russell 2000
|
| Barrier/trigger levels: | 1,254.75 for S&P 500, 796.768 for Russell 2000; 70% of initial levels
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.235%
|
| Cusip: | 48126NS57
|
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