By Jennifer Chiou
New York, May 20 - JPMorgan Chase & Co. priced $11.25 million of floating-rate 100% principal-protected notes due May 22, 2016 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly. It accrues at a per-year rate equal to the 10-year CMS rate plus the greater of (a) the spread of the 10-year CMS rate over 4.75% and (b) zero, subject to a maximum rate of 15%.
The payout at maturity will be par.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | 100% principal-protected notes
|
| Amount: | $11.25 million
|
| Maturity: | May 22, 2016
|
| Coupon: | A per-year rate equal to the 10-year CMS rate plus the greater of (a) the spread of the 10-year CMS rate over 4.75% and (b) zero, subject to a maximum rate of 15%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | May 20
|
| Settlement date: | May 22
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 2.0756%
|
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