By Jennifer Chiou
New York, March 6 - JPMorgan Chase & Co. priced $1,462,000 of 6.45% autocallable yield notes due March 7, 2014 linked to the SPDR S&P Metals & Mining exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the fund closes at or above its initial level on any of the quarterly call dates.
A trigger event will occur if the shares fall by more than 30% on any day during the life of the notes.
The payout at maturity will be par unless a trigger event has occurred and the fund finishes below its initial level, in which case investors will be exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying fund: | SPDR S&P Metals & Mining exchange-traded fund
|
| Amount: | $1,462,000
|
| Maturity: | March 7, 2014
|
| Coupon: | 6.45%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless a trigger event has occurred and the fund finishes below its initial level, in which case investors will be exposed to any losses
|
| Call: | At par if the fund closes at or above its initial level on any of the quarterly call dates
|
| Initial level: | $39.21
|
| Buffer amount: | $11.763; 30% of initial level
|
| Pricing date: | March 4
|
| Settlement date: | March 7
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.447%, including 1.5% for selling concessions
|
| Cusip: | 48126DZE2
|
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