By Marisa Wong
Madison, Wis., Sept. 4 - JPMorgan Chase & Co. priced $6.88 million of 6% autocallable yield notes due Sept. 5, 2013 linked to the Vanguard Total Stock Market Index Fund exchange-traded fund and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if both components close at or above their initial levels on any quarterly call date.
A trigger event occurs if either component falls by more than 40% on any day during the life of the notes.
The payout at maturity will be par unless either component finishes below its initial level and a trigger event has occurred, in which case investors will lose 1% for every 1% decline of the worst-performing component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying components: | Vanguard Total Stock Market Index Fund exchange-traded fund and S&P 500 index
|
| Amount: | $6.88 million
|
| Maturity: | Sept. 5, 2013
|
| Coupon: | 6%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If either component finishes below its initial level and either component ever dips below 60% trigger level, exposure to losses of worse-performing component; otherwise, par
|
| Call: | At par if both components close at or above their initial levels on Nov. 30, Feb. 28 or May 31, 2013
|
| Initial levels: | $71.78 for Vanguard and 1,399.48 for Russell
|
| Buffer amounts: | $28.71 for ETF and 559.792 for index; 40% of initial levels
|
| Pricing date: | Aug. 30
|
| Settlement date: | Sept. 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%, including 0.25% for selling concessions
|
| Cusip: | 48125V4P2
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