New Issue: JPMorgan prices $1.11 million 7.5% callable yield notes linked to S&P 500, Russell 2000

By Angela McDaniels

Tacoma, Wash., Aug. 24 - JPMorgan Chase & Co. priced $1.11 million of 7.5% single observation callable yield notes due Nov. 27, 2012 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 payout at maturity will be par unless the final level of either index is less than 75% of its initial level, in which case investors will receive par plus the return of the worst-performing index.

The notes are callable at par on Nov. 26, Feb. 26, 2012, May 26, 2012 and Aug. 26, 2012.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Single observation callable yield notes
Underlying indexes:	S&P 500, Russell 2000
Amount:	$1,105,000
Maturity:	Nov. 27, 2012
Coupon:	7.5%, payable monthly
Price:	Par
Payout at maturity:	Par unless final level of either index is less than its initial level by more than its protection amount, in which case par plus return of worst-performing index
Call option:	At par on Nov. 26, Feb. 26, 2012, May 26, 2012 and Aug. 26, 2012
Initial levels:	1,123.53 for S&P 500 and 651.70 for Russell
Protection amounts:	280.8825 for S&P 500 and 162.925 for Russell; 25% of initial levels
Pricing date:	Aug. 19
Settlement date:	Aug. 26
Agent:	J.P. Morgan Securities LLC
Fees:	2.778%, including 1.5% for selling concessions
Cusip:	48125XA48

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