By Tali Rackner
Norfolk, Va., April 5 – JPMorgan Chase & Co. priced $5.94 million of callable contingent interest notes due April 3, 2017 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 9% if each index closes at or above its trigger value, 65% of its initial level, on the review date for that quarter.
The notes are callable at par plus the contingent coupon on any interest payment date other than the final interest payment date.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its trigger value, in which case investors will be fully exposed to the decline of the lesser performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $5,944,000
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| Maturity: | April 3, 2017
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| Coupon: | Notes pay quarterly contingent coupon at annual rate of 9% if each underlying index closes at or above trigger value on review date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus final coupon unless any index finishes below trigger value, in which case full exposure to decline of lesser performing index
|
| Call: | At par plus contingent coupon on any interest payment date other than final one
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| Initial levels: | 2,037.05 for S&P 500 and 1,080.231 for Russell 2000
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| Trigger levels: | 1,324.0825 for S&P 500 and 702.15015 for Russell 2000; 65% of initial levels
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| Pricing date: | March 28
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| Settlement date: | March 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.42425%
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| Cusip: | 48128GPT1
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