By Toni Weeks
San Diego, April 27 - JPMorgan Chase & Co. priced $650,000 of 5% autocallable yield notes due April 30, 2013 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 will be called automatically at par plus accrued interest if the indexes close above their initial levels on three quarterly call dates. The call dates are July 26, Oct. 26 and Jan. 28, 2013.
A trigger event will occur if either index falls below the trigger level, 58% of the initial level, on any trading day.
If a trigger event does not occur, investors will receive par at maturity.
If a trigger event occurs and the return of the least-performing index is negative, investors will share in those losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $650,000
|
| Maturity: | April 30, 2013
|
| Coupon: | 5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If neither index falls below 58% of initial level during life of notes, par; full exposure to losses if a trigger event occurs and the return of the worst-performing index is negative
|
| Call: | At par if both underlying indexes close at or above initial levels on July 26, Oct. 26 or Jan. 28, 2013
|
| Initial levels: | 1,390.69 for S&P 500 and 812.12 for Russell
|
| Protection amount: | 584.0898 for S&P 500, 341.0904 for Russell, 58% of initial levels
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.9%, including 2.25% for selling concessions
|
| Cusip: | 48125VWE6
|
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