New Issue: JPMorgan prices $125,000 10.25% callable yield notes linked to S&P 500, Russell 2000

By Susanna Moon

Chicago, Sept. 20 - JPMorgan Chase & Co. priced $125,000 of 10.25% callable yield notes due Sept. 21, 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 notes are callable at par on Dec. 21, March 21, 2012 and June 21, 2012.

The payout at maturity will be par unless either index falls to or below its knock-in level - 70% of its initial level - during the life of the notes and either index finishes below its initial level, in which case investors will receive par plus the return of the worst-performing index.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Callable yield notes
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$125,000
Maturity:	Sept. 21, 2012
Coupon:	10.25%, payable monthly
Price:	Par
Payout at maturity:	Par unless either index falls by more than protection amount during life of notes and either index finishes below initial level, in which case par plus return of worst-performing index
Call option:	At par on Dec. 21, March 21, 2012 and June 21, 2012
Initial levels:	1,216.01 for S&P 500 and 714.31 for Russell 2000
Protection amount:	364.803 for S&P 500 and 214.296 3for Russell 2000; 30% of initial levels
Pricing date:	Sept. 16
Settlement date:	Sept. 21
Agent:	J.P. Morgan Securities LLC
Fees:	4.25%, including 2.25% for selling concessions
Cusip:	48125XY91

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