Obbligazione JPMorgan Chase 7% ( US48126DS599 ) in USD

JPMorgan Chase

100 USD ▲

Stati Uniti

US48126DS599 ( in USD )

7% per anno ( pagato 2 volte l'anno)

30/04/2028

Prospetto opuscolo dell'obbligazione JP Morgan US48126DS599 en USD 7%, scadenza 30/04/2028

1 000 USD

30 000 000 USD

48126DS59

30/04/2026 ( In 81 giorni )

JPMorgan Chase & Co. è una delle più grandi istituzioni finanziarie al mondo, operante nel settore bancario d'investimento, gestione patrimoniale e servizi finanziari.

The Obbligazione issued by JPMorgan Chase ( United States ) , in USD, with the ISIN code US48126DS599, pays a coupon of 7% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 30/04/2028

The Obbligazione issued by JPMorgan Chase ( United States ) , in USD, with the ISIN code US48126DS599, was rated NR by Moody's credit rating agency.

The Obbligazione issued by JPMorgan Chase ( United States ) , in USD, with the ISIN code US48126DS599, was rated NR by Standard & Poor's ( S&P ) credit rating agency.

http://www.sec.gov/Archives/edgar/data/19617/000089109213003573/e...
424B2 1 e53304_424b2.htm PRICING SUPPLEMENT NO. 1288
CALCULATION OF REGISTRATION FEE
Maximum Aggregate
Amount of
Title of Each Class of Securities Offered
Offering Price
Registration Fee
Notes
$20,000,000
$2,728

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April 2013
Pricing Supplement No. 1288
Registration Statement No. 333-177923
Dated April 19, 2013
Filed pursuant to Rule 424(b)(2)
INTEREST RATE STRUCTURED INVESTMENTS
Fixed to Floating Rate Notes due April 30, 2028
Leveraged CMS Curve and S&P 500® Index Linked Notes
As further described below, interest will accrue on the notes (i) in Year 1 and Year 2: at a rate of 7.00% per annum and (ii) in Years 3 to maturity: for each day that the
closing value of the S&P 500® Index is at or above the index reference level, at a variable rate per annum equal to 4 times the difference, if any, between the 30-Year
Constant Maturity Swap Rate ("30CMS") and the 5-Year Constant Maturity Swap Rate ("5CMS") as determined on the CMS reference determination date at the start
of the related quarterly interest payment period; subject to the maximum interest rate of 7.00% per annum for each floating interest payment period and the minimum
interest rate of 0.00% per annum. The notes provide an above-market interest rate in Year 1 and Year 2; however, for each interest payment period in Years 3 to
maturity, the notes wil not pay any interest with respect to the interest payment period if the CMS reference index level is equal to or less than 0.00% on the related
quarterly CMS reference determination date. In addition, if on any calendar day the index closing value is less than the index reference level, interest will accrue at a
rate of 0.00% per annum for that day. Any payment on the notes is subject to the credit risk of JPMorgan Chase & Co.
SUMMARY TERMS
Issuer:
JPMorgan Chase & Co.
Aggregate principal amount:
$20,000,000. We may increase the aggregate principal amount prior to the original issue date but are not required to do so.
Issue price:
At variable prices (see "Commissions and Issue Price" below)
Stated principal amount:
$1,000 per note
Pricing date:
April 19, 2013
Original issue date:
April 30, 2013 (7 business days after the pricing date)
Maturity date:
April 30, 2028; provided that if such day is not a business day, any payment at maturity will be made on the next succeeding
business day and no adjustment will be made to any interest payment made on that succeeding business day.
Payment at maturity:
The payment at maturity per note will be the stated principal amount plus accrued and unpaid interest, if any.
Interest:
From and including the original issue date to but excluding April 30, 2015: 7.00% per annum
From and including April 30, 2015 to but excluding the maturity date (the "floating interest rate period"):
For each interest payment period during the floating interest rate period, a variable rate per annum equal to the product of:
(a) leverage factor times the CMS reference index level; subject to the minimum interest rate and the
maximum interest rate; and
(b) N/ACT; where,
"N" = the total number of calendar days in the applicable interest payment period on which the index closing value is
greater than or equal to the index reference level (each such day, an "accrual day"); and
"ACT" = the total number of calendar days in the applicable interest payment period.
The CMS reference index level applicable to an interest payment period will be determined on the related CMS reference
determination date.
Beginning April 30, 2015, it is possible that you could receive little or no interest on the notes. If, on the related
CMS reference determination date, the CMS reference index level is equal to or less than the CMS reference index
strike, interest will accrue at a rate of 0.00% for that interest payment period. In addition, if on any day, the index
closing value is determined to be less than the index reference level, interest will accrue at a rate of 0.00% per
annum for that day. The determination of the index closing value will be subject to certain market disruption
events.
Leverage factor:
4
Interest payment period:
Quarterly
Interest payment period end dates:
Unadjusted
Interest payment dates:
Each January 30, April 30, July 30 and October 30 beginning July 30, 2013; provided that if any such day is not a business
day, that interest payment will be made on the next succeeding business day and no adjustment will be made to any interest
payment made on that succeeding business day.
Interest reset dates:
Each January 30, April 30, July 30 and October 30 beginning April 30, 2015
CMS reference determination date:
Two (2) U.S. government securities business days prior to the related interest reset date at the start of the applicable
interest payment period.
Maximum interest rate:
7.00% per annum in any quarterly interest payment period during the floating interest rate period
Minimum interest rate:
0.00% per annum
CMS reference index level:
30CMS minus 5CMS, expressed as a percentage.
Please see "Additional Provisions--CMS Reference Index Level" below.
CMS reference index strike:
0.00%
Index:
The S&P 500® Index
Index reference level:
75.00% of the index closing value on April 25, 2013
Agent:
J.P. Morgan Securities LLC ("JPMS")
Calculation agent:
JPMS

Terms continued on the following page
Commissions and issue price:
Price to Public(1)(2)
Fees and Commissions(2)
Proceeds to Issuer
Per Note
At variable prices
$35.00
$965.00
Total
At variable prices
$700,000
$19,300,000

(1) The notes sold in one or more negotiated transactions at varying prices to be determined at the time of each sale, which were at market prices prevailing, at
prices related to such prevailing prices or at negotiated prices; provided, however, that such prices were not less than $970 per note and not more than $1,000
per note. See "Risk Factors--The Price You Pay For The Notes May Be Higher Than The Prices Paid By Other Investors."
(2) JPMS or one of our affiliates will pay varying discounts and commissions to dealers, including Morgan Stanley Smith Barney LLC (an affiliate of the agent) and
their financial advisors, of up to $35 per note depending on market conditions. See "Plan of Distribution (Conflicts of Interest)" beginning on page PS-42 of the
accompanying product supplement no. 1-I.
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Investing in the notes involves a number of risks. See "Risk Factors" on page US-1 of the accompanying underlying supplement no. 1-I, "Risk Factors"
on page PS-13 of the accompanying product supplement no. 1-I and "Risk Factors" beginning on page 9 of this pricing supplement.
Neither the Securities and Exchange Commission (the "SEC") nor any state securities commission has approved or disapproved of the notes or passed
upon the accuracy or the adequacy of this pricing supplement or the accompanying underlying supplement, product supplement, prospectus
supplement and prospectus. Any representation to the contrary is a criminal offense.
The notes are not bank deposits and are not insured by the Federal Deposit Insurance Corporation or any other governmental agency, nor are they
obligations of, or guaranteed by, a bank.
YOU SHOULD READ THIS PRICING SUPPLEMENT TOGETHER WITH THE RELATED UNDERLYING SUPPLEMENT NO. 1-I, PRODUCT SUPPLEMENT NO. 1-I, PROSPECTUS SUPPLEMENT AND
PROSPECTUS, EACH OF WHICH CAN BE ACCESSED VIA THE HYPERLINKS BELOW, BEFORE YOU DECIDE TO INVEST.
Underlying supplement no. 1-I dated November 14, 2011: http://sec.gov/Archives/edgar/data/19617/000089109211007615/e46154_424b2.pdf
Product supplement no. 1-I dated November 14, 2011: http://www.sec.gov/Archives/edgar/data/19617/000089109211007588/e46195_424b2.pdf
Prospectus supplement dated November 14, 2011: http://www.sec.gov/Archives/edgar/data/19617/000089109211007578/e46180_424b2.pdf
Prospectus dated November 14, 2011: http://www.sec.gov/Archives/edgar/data/19617/000089109211007568/e46179_424b2.pdf

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Leveraged CMS Curve and S&P 500® Index Linked Notes

Terms continued from previous page:
Index closing value:
The closing value of the index. Please see "Additional Provisions--The S&P 500® Index" below.
Index cutoff:
The index closing value for any day from and including the fifth index business day prior to the related interest payment date
for any interest payment period shall be the index closing value on such fifth index business day prior to such interest
payment date.
Redemption:
None
Day-count convention:
Actual/Actual
Specified currency:
U.S. dollars
Listing
The notes will not be listed on any securities exchange.
Denominations
$1,000 / $1,000
CUSIP / ISIN:
48126DS59 / US48126DS599
Book-entry or certificated note:
Book-entry
Business day:
New York

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Fixed to Floating Rate Notes due April 30, 2028
Leveraged CMS Curve and S&P 500® Index Linked Notes
The Notes
The notes offered are senior unsecured obligations of JPMorgan Chase & Co. In year 1 and year 2, the notes pay interest at a rate of 7.00% per annum. Beginning
April 30, 2015, interest will accrue on the notes for each day that the closing value of the S&P 500® Index is at or above the index reference level, at a variable rate per
annum equal to 4 times the CMS reference index level for the related quarterly interest payment period; subject to the maximum interest rate of 7.00% per annum per
interest payment period and the minimum interest rate of 0.00% per annum. The floating interest rate is based on the CMS reference index level and the level of the
S&P 500® Index. If 30CMS is less than or equal to 5CMS on the applicable CMS reference determination date, the floating interest rate will be 0.00% and no interest
will accrue on the notes for such interest period. In addition, if on any calendar day during the interest payment period the index closing value is less than the index
reference level, interest will accrue at a rate of 0.00% per annum for that day. We describe the basic features of these notes in the sections of the accompanying
prospectus called "Description of Debt Securities," the accompanying prospectus supplement called "Description of Notes" and the accompanying product supplement
no. 1-I called "Description of Notes," subject to and as modified by the provisions described in this pricing supplement. All payments on the notes are subject to the
credit risk of JPMorgan Chase & Co.
Additional Provisions
CMS Reference Index Level
What are the 30-Year Constant Maturity Swap Rate ("30CMS") and the 5-Year Constant Maturity Swap Rate ("5CMS")?
The 30CMS is the rate for U.S. dollar swap with a Designated Maturity of 30 years that appears on Reuters page "ISDAFIX1" (or any successor page) at approximately
11:00 a.m., New York City time, on any CMS reference determination date, as determined by the calculation agent.
The 5CMS is the rate for U.S. dollar swap with a Designated Maturity of 5 years that appears on Reuters page "ISDAFIX1" (or any successor page) at approximately
11:00 a.m., New York City time, on any CMS reference determination date, as determined by the calculation agent.
An interest rate swap rate, at any given time, generally indicates the fixed rate of interest (paid semi-annually) that a counterparty in the swaps market would have to
pay for a given maturity, in order to receive a floating rate (paid quarterly) equal to 3-month LIBOR for that same maturity.
CMS Reference Determination Date
Two (2) U.S. government securities business days prior to the related interest reset date at the start of the applicable interest payment period.
U.S. Government Securities Business Day
Any day, other than a Saturday, Sunday or a day on which the Securities Industry and Financial Markets Association ("SIFMA") recommends that the fixed income
departments of its members be closed for the entire day for purposes of trading in U.S. government securities.
CMS Rate Fallback Provisions
On any CMS reference determination date, if the 30CMS or the 5CMS cannot be determined by reference to Reuters page "ISDAFIX1" (or any successor page), then
the calculation agent will determine such affected rate for such day on the basis of the mid-market semi-annual swap rate quotations to the calculation agent provided
by five leading swap dealers in the New York City interbank market (the "Reference Banks") at approximately 11:00 a.m., New York City time, on such CMS reference
determination date, and, for this purpose, the mid-market semi-annual swap rate means the mean of the bid and offered rates for the semi-annual fixed leg, calculated
on a 30/360 day count basis, of a fixed-for-floating U.S. Dollar interest rate swap transaction with a term equal to the applicable 30 year or 5 year maturity commencing
on such CMS reference determination date and in a representative amount with an acknowledged dealer of good credit in the swap market, where the floating leg,
calculated on an actual/360 day count basis, is equivalent to USD-LIBOR-BBA with a designated maturity of three months. The calculation agent will request the
principal New York City office of each of the Reference Banks to provide a quotation of its rate.
April 2013
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Leveraged CMS Curve and S&P 500® Index Linked Notes
If at least three quotations are provided, the rate for that day will be the arithmetic mean of the quotations, eliminating the highest quotation (or, in the event of equality,
one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest). If fewer than three quotations are provided as requested, the rate will be
determined by the calculation agent in good faith and in a commercially reasonable manner.
The S&P 500® Index
The S&P 500® Index, which is calculated, maintained and published by Standard & Poor's Financial Services LLC, a subsidiary of The McGraw-Hill Companies, Inc.,
consists of 500 component stocks selected to provide a performance benchmark for the U.S. equity markets. The calculation of the S&P 500® Index is based on the
relative value of the float adjusted aggregate market capitalization of the 500 component companies as of a particular time as compared to the aggregate average
market capitalization of the 500 similar companies during the base period of the years 1941 through 1943. The S&P 500® Index is described under the heading "The
S&P 500® Index" in the accompanying underlying supplement no. 1-I.

Index Closing Value Fallback Provisions
The index closing value on any calendar day beginning April 30, 2015 on which the index level is to be determined (each, an "index determination date") will equal the
official closing value of the index as published by the index publisher or its successor, or in the case of any successor index, the official closing value for any such
successor index as published by the publisher of such successor index or its successor, at the regular weekday close of trading on that calendar day, as determined by
the calculation agent; provided that the index closing value for any day from and including the fifth index business day prior to the related interest payment date for any
interest payment period shall be the index closing value in effect on such fifth index business day prior to such interest payment date; provided further that if a market
disruption event with respect to the index occurs on any index determination date or if any such index determination date is not an index business day, the closing
value of the index for such index determination date will be the closing value of the index on the immediately preceding index business day on which no market
disruption event has occurred. In certain circumstances, the index closing value shall be based on the alternate calculation of the index described under "General
Terms of the Notes--Discontinuance of an Equity Index; Alteration of Method of Calculation" in the accompanying product supplement no. 1-I.
"Index business day" means a day, as determined by the calculation agent, on which trading is generally conducted on each of the relevant exchange(s) for the index,
other than a day on which trading on such exchange(s) is scheduled to close prior to the time of the posting of its regular final weekday closing price.
"Relevant exchange" means the primary exchange(s) or market(s) of trading for (i) any security then included in the index, or any successor index, and (ii) any futures
or options contracts related to the index or to any security then included in the index.
For more information regarding market disruption events with respect to the index, discontinuance of the index and alteration of the method of calculation, see "General
Terms of the Notes--Market Disruption Event" and "--Discontinuance of an Equity Index; Alteration of Method of Calculation" in the accompanying product supplement
no. 1-I.
April 2013
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Leveraged CMS Curve and S&P 500® Index Linked Notes
Hypothetical Examples
The table below presents examples of hypothetical interest that would accrue on the notes during any quarter in the floating interest rate period. The examples below
are for purposes of illustration only. The examples of the hypothetical floating interest rate that would accrue on the notes are based both on the level of the CMS
reference index level on the applicable CMS reference determination date and on the total number of calendar days in a quarterly interest payment period on which the
index closing value of the S&P 500® Index is greater than or equal to the index reference level.
The actual interest payments during the floating interest rate period will depend on the actual level of the CMS reference index level on each CMS reference
determination date and the index closing value of the S&P 500® Index on each day during the floating interest payment period. The applicable interest rate for each
quarterly interest payment period will be determined on a per-annum basis but will apply only to that interest payment period. The table assumes that the interest
payment period contains 90 calendar days. The examples below are for purposes of illustration only and would provide different results if different assumptions were
made.
Hypothetical Interest Rate
CMS
4 times CMS
Reference
Reference
Number of accrual days on which the index closing value of the S&P 500® Index
Index Level
Index Level
is greater than or equal to the index reference level
0
10
20
30
50
75
90
-2.600%
0.00%
0.00%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
-2.400%
0.00%
0.00%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
-2.200%
0.00%
0.00%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
-2.000%
0.00%
0.00%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
-1.800%
0.00%
0.00%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
-1.600%
0.00%
0.00%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
-1.400%
0.00%
0.00%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
-1.200%
0.00%
0.00%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
-1.000%
0.00%
0.00%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
-0.800%
0.00%
0.00%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
-0.600%
0.00%
0.00%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
-0.400%
0.00%
0.00%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
-0.200%
0.00%
0.00%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.000%
0.00%
0.00%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.0000%
0.200%
0.80%
0.00%
0.0889%
0.1778%
0.2667%
0.4444%
0.6667%
0.8000%
0.400%
1.60%
0.00%
0.1778%
0.3556%
0.5333%
0.8889%
1.3333%
1.6000%
0.600%
2.40%
0.00%
0.2667%
0.5333%
0.8000%
1.3333%
2.0000%
2.4000%
0.800%
3.20%
0.00%
0.3556%
0.7111%
1.0667%
1.7778%
2.6667%
3.2000%
1.000%
4.00%
0.00%
0.4444%
0.8889%
1.3333%
2.2222%
3.3333%
4.0000%
1.200%
4.80%
0.00%
0.5333%
1.0667%
1.6000%
2.6667%
4.0000%
4.8000%
1.400%
5.60%
0.00%
0.6222%
1.2444%
1.8667%
3.1111%
4.6667%
5.6000%
1.600%
6.40%
0.00%
0.7111%
1.4222%
2.1333%
3.5556%
5.3333%
6.4000%
1.750%
7.00%
0.00%
0.7778%
1.5556%
2.3333%
3.8889%
5.8333%
7.0000%
1.800%
7.00%
0.00%
0.7778%
1.5556%
2.3333%
3.8889%
5.8333%
7.0000%
2.000%
7.00%
0.00%
0.7778%
1.5556%
2.3333%
3.8889%
5.8333%
7.0000%
2.200%
7.00%
0.00%
0.7778%
1.5556%
2.3333%
3.8889%
5.8333%
7.0000%
2.400%
7.00%
0.00%
0.7778%
1.5556%
2.3333%
3.8889%
5.8333%
7.0000%
2.600%
7.00%
0.00%
0.7778%
1.5556%
2.3333%
3.8889%
5.8333%
7.0000%
2.800%
7.00%
0.00%
0.7778%
1.5556%
2.3333%
3.8889%
5.8333%
7.0000%
3.000%
7.00%
0.00%
0.7778%
1.5556%
2.3333%
3.8889%
5.8333%
7.0000%

If 30CMS is less than or equal to 5CMS on the applicable CMS reference determination date, the floating interest rate will be the minimum interest rate of 0.00% and
no interest will accrue on the notes for such interest period regardless of the total number of calendar days in the interest payment period on which the index closing
value of the S&P 500® Index is greater than or equal to the index reference level.
April 2013
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Leveraged CMS Curve and S&P 500® Index Linked Notes
Historical Information
The CMS Reference Index Level
The following graph sets forth the historical difference between the 30CMS and the 5CMS for the period from January 1, 1998 to April 19, 2013 (the "historical
period"). The historical difference between the 30CMS and the 5CMS should not be taken as an indication of the future performance of the CMS reference index level.
The graph below does not reflect the return the notes would have had during the periods presented because it does not take into account the index closing values or
the leverage factor. We cannot give you any assurance that the level of the CMS reference index level will be positive on any CMS reference determination date. We
obtained the information in the graph below, without independent verification, from Bloomberg Financial Markets.
*The bold line in the graph indicates the CMS reference index strike of 0.00%.
Historical period

Total number of days in historical period
3,992
Number of days CMS reference index level was greater than 0.00%
3,960
Number of days CMS reference index level was less than or equal to 0.00%
32
The historical performance shown above is not indicative of future performance. The CMS reference index level may be negative on one or more specific CMS
reference determination dates during the floating interest rate period even if the level of the CMS reference index level is generally positive and, moreover, the level of
the CMS reference index level has in the past been, and may in the future be, negative.
If the level of the CMS reference index level is negative on any CMS reference determination date during the floating interest rate period, you will not
receive any interest for the related interest payment period. Moreover, even if the level of the CMS reference index level is positive on any such CMS
reference determination date, if the index closing value is less than the index reference level on any day during the interest payment period, you will
not receive any interest with respect to such day, and if the index closing value remains below the index reference level for each day in the applicable
interest payment period, you will receive no interest for that interest payment period.
April 2013
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Leveraged CMS Curve and S&P 500® Index Linked Notes
The S&P 500® Index
The following table sets forth the published high and low index closing values, as well as end-of-quarter index closing values, for each quarter in the period from
January 2, 2008 through April 19, 2013. The graph following the table sets forth the daily index closing values for the period from January 2, 1998 through April 19,
2013. The index closing value on April 19, 2013 was 1,555.25. The historical index closing values should not be taken as an indication of future performance, and we
cannot give you any assurance that the index closing value will be higher than the index reference level on any index determination date during the floating interest rate
period in which you are paid the floating interest rate. The graph below does not reflect the return the notes would have had during the periods presented because it
does not take into account the CMS reference index level or the leverage factor. We obtained the information in the table and graph below from Bloomberg Financial
Markets, without independent verification.
S&P 500® Index
High
Low
Period End
2008

First Quarter
1,447.16
1,273.37
1,322.70
Second Quarter
1,426.63
1,278.38
1,280.00
Third Quarter
1,305.32
1,106.39
1,166.36
Fourth Quarter
1,161.06
752.44
903.25
2009

First Quarter
934.70
676.53
797.87
Second Quarter
946.21
811.08
919.32
Third Quarter
1,071.66
879.13
1,057.08
Fourth Quarter
1,127.78
1,025.21
1,115.10
2010

First Quarter
1,174.17
1,056.74
1,169.43
Second Quarter
1,217.28
1,030.71
1,030.71
Third Quarter
1,148.67
1,022.58
1,141.20
Fourth Quarter
1,259.78
1,137.03
1,257.64
2011

First Quarter
1,343.01
1,256.88
1,325.83
Second Quarter
1,363.61
1,265.42
1,320.64
Third Quarter
1,353.22
1,119.46
1,131.42
Fourth Quarter
1,285.09
1,099.23
1,257.60
2012

First Quarter
1,416.51
1,277.06
1,408.47
Second Quarter
1,419.04
1,278.04
1,362.16
Third Quarter
1,465.77
1,334.76
1,440.67
Fourth Quarter
1,461.40
1,353.33
1,426.19
2013

First Quarter
1,569.19
1,457.15
1,569.19
Second Quarter (through April 19, 2013)
1,593.37
1,541.61
1,555.25

April 2013
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http://www.sec.gov/Archives/edgar/data/19617/000089109213003573/e...

Fixed to Floating Rate Notes due April 30, 2028
Leveraged CMS Curve and S&P 500® Index Linked Notes
*The bold line in the graph indicates the index reference level of 1,166.438 (75% of the S&P 500® Closing Level on April 19, 2013 of 1,555.25)

Historical period

Total number of days in the historical period, beginning on July 14, 1998**
3,716
Number of days on or after July 14, 1998 that the index closing value was greater than or equal to
1,166.438
2,275
Number of days on or after July 14, 1998 that the index closing value was less than 1,166.438
1,441
** From the inception of the S&P 500® Index until July 14, 1998, its closing value was less than 1,166.438
April 2013
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