Obbligazione JPMorgan Chase 4.6% ( US48127A2603 ) in USD

Emittente JPMorgan Chase
Prezzo di mercato 100 USD  ▲ 
Paese  Stati Uniti
Codice isin  US48127A2603 ( in USD )
Tasso d'interesse 4.6% per anno ( pagato 2 volte l'anno)
Scadenza 22/01/2024 - Obbligazione è scaduto



Prospetto opuscolo dell'obbligazione JP Morgan US48127A2603 in USD 4.6%, scaduta


Importo minimo 1 000 USD
Importo totale 3 000 000 USD
Cusip 48127A260
Standard & Poor's ( S&P ) rating N/A
Moody's rating NR
Descrizione dettagliata 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 US48127A2603, pays a coupon of 4.6% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 22/01/2024

The Obbligazione issued by JPMorgan Chase ( United States ) , in USD, with the ISIN code US48127A2603, was rated NR by Moody's credit rating agency.







http://www.sec.gov/Archives/edgar/data/19617/000089109214000409/e...
424B2 1 e57034_424b2.htm PRICING SUPPLEMENT NO. 2090
CALCULATION OF REGISTRATION FEE
Maximum Aggregate
Amount of
Title of Each Class of Securities Offered
Offering Price
Registration Fee
Notes
$3,000,000
$386.40

1 of 25
1/23/2014 8:15 AM


http://www.sec.gov/Archives/edgar/data/19617/000089109214000409/e...

January 2014
Pricing Supplement No. 2090
Registration Statement No. 333-177923
Dated January 17, 2014
Filed pursuant to Rule 424(b)(2)
STRUCTURED INVESTMENTS
Opportunities in U.S. Equities

Contingent Income Securities due January 22, 2024
Based on the Performance of the S&P 500® Index
Principal at Risk Securities
Contingent Income Securities do not guarantee the payment of interest or the repayment of principal. Instead, the securities offer the opportunity for investors to earn a
contingent quarterly payment equal to 1.15% of the stated principal amount, but only with respect to each determination date on which the index closing value is greater
than or equal to 50% of the initial index value, which we refer to as the downside threshold level. If the final index value is greater than or equal to the downside
threshold level, the payment at maturity due on the securities will be the sum of the stated principal amount and the related contingent quarterly payment. If, however,
the final index value is less than the downside threshold level, investors will be fully exposed to the decline in the underlying index, as compared to the initial index value,
on a 1 to 1 basis. Moreover, if, on any determination date, the index closing value is less than the downside threshold level, you will not receive any contingent quarterly
payment for that quarterly period. As a result, investors must be willing to accept the risk of receiving few or no contingent quarterly payments for extended periods of
time or even throughout the ten year term of the notes and also the risk of receiving a payment at maturity that is significantly less than the stated principal amount of
the securities and could be zero. Accordingly, investors could lose their entire initial investment in the securities. Investors will not participate in any
appreciation of the underlying index. The securities are unsecured and unsubordinated obligations of JPMorgan Chase & Co., issued as part of JPMorgan Chase &
Co.'s Medium-Term Notes, Series E, program. Any payment on the securities is subject to the credit risk of JPMorgan Chase & Co.
FINAL TERMS

Issuer:
JPMorgan Chase & Co.
Underlying index:
S&P 500® Index
Aggregate principal amount:
$3,000,000
Contingent quarterly payment:
· If, on any determination date, the index closing value or the final index value, as applicable, is greater than or equal to the
downside threshold level, we will pay a contingent quarterly payment of $0.115 (1.15% of the stated principal amount) per
security on the related contingent payment date.
· If, on any determination date, the index closing value or the final index value, as applicable, is less than the downside
threshold level, no contingent quarterly payment will be made with respect to that determination date.
Determination dates:
April 17, 2014, July 17, 2014, October 17, 2014, January 20, 2015, April 17, 2015, July 17, 2015, October 19, 2015, January
19, 2016, April 18, 2016, July 18, 2016, October 17, 2016, January 17, 2017, April 17, 2017, July 17, 2017, October 17, 2017,
January 17, 2018, April 17, 2018, July 17, 2018, October 17, 2018, January 17, 2019, April 17, 2019, July 17, 2019, October
17, 2019, January 17, 2020, April 17, 2020, July 17, 2020, October 19, 2020, January 19, 2021, April 19, 2021, July 19, 2021,
October 18, 2021, January 18, 2022, April 18, 2022, July 18, 2022, October 17, 2022, January 17, 2023, April 17, 2023, July
17, 2023, October 17, 2023 and January 17, 2024 subject to postponement for non-trading days and certain market
disruption events. We also refer to January 17, 2024 as the final determination date.
Contingent payment dates:
With respect to each determination date other than the final determination date, the third business day after the related
determination date. The payment of the contingent quarterly payment, if any, with respect to the final determination date wil
be made on the maturity date.
Payment at maturity:
· If the final index value is greater than or equal to the
(i) the stated principal amount plus (ii) the contingent quarterly
downside threshold level:
payment with respect to the final determination date

· If the final index value is less than the downside threshold(i) the stated principal amount multiplied by (ii) the index
level:
performance factor
Index performance factor:
final index value / initial index value
Downside threshold level:
919.35, which is equal to 50% of the initial index value
Initial index value:
1,838.70, which was the index closing value of the underlying index on the pricing date
Final index value:
The index closing value of the underlying index on the final determination date
Stated principal amount:
$10 per security
Issue price:
$10 per security (see "Commissions and issue price" below)
Pricing date:
January 17, 2014
Original issue date (settlement
January 23, 2014
date):
Maturity date:
January 22, 2024, subject to postponement in the event of for certain market disruption events and as described under
"Description of Securities -- Payment at Maturity" in the accompanying product supplement no. MS-4-I
CUSIP/ISIN:
48127A260 / US48127A2603
Listing:
The securities will not be listed on any securities exchange.
Agent:
J.P. Morgan Securities LLC ("JPMS")
Final index value:
The index closing value of the underlying index on the final determination date
Commissions and issue price:
Price to Public(1)
Fees and Commissions(2)
Proceeds to Issuer
Per security
$10.00
$0.35
$9.65
Total
$3,000,000.00
$105,000.00
$2,895,000.00






(1) See "Additional Information about the Securities -- Use of proceeds and hedging" in this document for information about the components of the price
to public of the securities.
(2) JPMS, acting as agent for JPMorgan Chase & Co., will pay all of the selling commissions of $0.35 per $10 stated principal amount security it
receives from us to Morgan Stanley Smith Barney LLC ("Morgan Stanley Wealth Management"). See "Underwriting (Conflicts of Interest)" beginning
on page PS-63 of the accompanying product supplement no. MS-4-I.
2 of 25
1/23/2014 8:15 AM


http://www.sec.gov/Archives/edgar/data/19617/000089109214000409/e...
The estimated value of the securities on the pricing date as determined by JPMS was $9.297 per $10 stated principal amount security. See
"Additional Information about the Securities -- JPMS's estimated value of the securities" in this pricing supplement for additional information.
Investing in the securities involves a number of risks. See "Risk Factors" beginning on page PS-13 of the accompanying product
supplement no. MS-4-I, "Risk Factors" beginning on page US-1 of the accompanying underlying supplement no. 1-I and "Risk Factors"
beginning on page 7 of this pricing supplement.
Neither the Securities and Exchange Commission (the "SEC") nor any state securities commission has approved or disapproved of the securities or passed upon
the accuracy or the adequacy of this document or the accompanying product supplement, underlying supplement, prospectus supplement and prospectus. Any
representation to the contrary is a criminal offense.
The securities 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 document together with the related product supplement no. MS-4-I, underlying supplement no. 1-I, prospectus supplement and
prospectus, each of which can be accessed via the hyperlinks below. Please also see "Additional Information about the Securities" at the end of this
document.
Product supplement no. MS-4-I dated December 27, 2011: http://www.sec.gov/Archives/edgar/data/19617/000089109211008357/e46666_424b2.pdf
Underlying supplement no. 1-I dated November 14, 2011: http://www.sec.gov/Archives/edgar/data/19617/000089109211007615/e46154_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

3 of 25
1/23/2014 8:15 AM


http://www.sec.gov/Archives/edgar/data/19617/000089109214000409/e...
Contingent Income Securities due January 22, 2024
Based on the Performance of the S&P 500® Index
Principal at Risk Securities
The Contingent Income Securities due January 22, 2024 Based on the Performance of the S&P 500® Index, which we refer to
as the securities, provide an opportunity for investors to earn a contingent quarterly payment, which is an amount equal to
$0.115 (1.15% of the stated principal amount) per security, with respect to each quarterly determination date on which the
index closing value or the final index value, as applicable, is greater than or equal to 50% of the initial index value, which we
refer to as the downside threshold level. The contingent quarterly payment, if any, wil be payable quarterly on the relevant
contingent payment date, which is the third business day after the related determination date. It is possible that the index
closing value could remain below the downside threshold level for extended periods of time or even throughout the term of the
securities so that you may receive few or no contingent quarterly payments for a ten year period of time.
If the final index value is greater than or equal to the downside threshold level, the payment at maturity wil also be the sum of
the stated principal amount and the contingent quarterly payment with respect to the final determination date. However, if the
final index value is less than the downside threshold level, investors wil be ful y exposed to the decline in the underlying index,
as compared to the initial index value, on a 1 to 1 basis. Under these circumstances, the payment at maturity wil be (i) the
stated principal amount multiplied by (i ) the index performance factor, which wil be less than 50% of the stated principal
amount of the securities and could be zero. Investors in the securities must be willing to accept the risk of losing their entire
principal and also the risk of receiving few or no contingent quarterly payments. In addition, investors wil not participate in any
appreciation of the underlying index.
For purposes of the securities offered by this document, notwithstanding anything to the contrary in the accompanying product
supplement no. MS-4-I, the securities will not be subject to early redemption prior to maturity.


January 2014
Page 2
4 of 25
1/23/2014 8:15 AM


http://www.sec.gov/Archives/edgar/data/19617/000089109214000409/e...
Contingent Income Securities due January 22, 2024
Based on the Performance of the S&P 500® Index
Principal at Risk Securities
The securities offer investors an opportunity to earn a contingent quarterly payment equal to 1.15% of the stated principal
amount with respect to each determination date on which the index closing value or the final index value, as applicable, is
greater than or equal to 50% of the initial index value, which we refer to as the downside threshold level. The payment at
maturity will vary depending on the final index value, as follows:
Scenario 1
The final index value is greater than or equal to the downside threshold level.
§ The payment due at maturity wil be (i) the stated principal amount plus (ii) the contingent quarterly
payment with respect to the final determination date.
§ Investors wil not participate in any appreciation of the underlying index from the initial index value.
Scenario 2
The final index value is less than the downside threshold level.
§ The payment due at maturity wil be (i) the stated principal amount multiplied by (ii) the index
performance factor.
§ Investors will lose at least 50% and possibly all of their principal in this scenario.
January 2014
Page 3
5 of 25
1/23/2014 8:15 AM


http://www.sec.gov/Archives/edgar/data/19617/000089109214000409/e...
Contingent Income Securities due January 22, 2024
Based on the Performance of the S&P 500® Index
Principal at Risk Securities
The fol owing diagrams il ustrate the potential outcomes for the securities depending on (1) the index closing value and (2) the
final index value.

Diagram #1: First 39 Determination Dates


Diagram #2: Payment at Maturity
6 of 25
1/23/2014 8:15 AM


http://www.sec.gov/Archives/edgar/data/19617/000089109214000409/e...

For more information about the payment at maturity in different hypothetical scenarios, see "Hypothetical Examples"
starting on page 5.
January 2014
Page 4
7 of 25
1/23/2014 8:15 AM


http://www.sec.gov/Archives/edgar/data/19617/000089109214000409/e...
Contingent Income Securities due January 22, 2024
Based on the Performance of the S&P 500® Index
Principal at Risk Securities
The fol owing hypothetical examples are for il ustrative purposes only. Whether you receive a contingent quarterly payment wil
be determined on each quarterly determination date, and the payment at maturity, if any, will be determined on the final
determination date. The actual initial index value and downside threshold level are provided on the cover of this pricing
supplement. Any payment on the securities is subject to the credit risk of JPMorgan Chase & Co. The numbers in the
hypothetical examples may be rounded for ease of analysis. The below examples are based on the fol owing terms:
Stated principal amount:
$10 per security
Hypothetical initial index value:
1,850
Hypothetical downside threshold level:
925, which is 50% of the hypothetical initial index value
Contingent quarterly payment:
$0.115 (1.15% of the stated principal amount) per security

Example 1. On 3 determination dates prior to the final determination date, the index closing value is greater than or equal to
the downside threshold level of 925, and the index closing value on each other determination date prior to the final
determination date is less than the downside threshold level of 925. Therefore, you would receive the contingent quarterly
payment of $0.115 with respect to those 3 determination dates, totaling $0.115 x 3 = $0.345. With respect to the remaining 37
determination dates, you would receive no contingent quarterly payment. On the final determination date, the index closing
value is 740, which is less than the downside threshold level of 925. As the final index value is less than the downside
threshold level, you would not receive a contingent quarterly payment at maturity, and you would receive a payment at maturity
equal to the product of the stated principal amount and the index performance factor, calculated as fol ows:
stated principal amount x (final index value / initial index value) = $10 x (740 / 1,850) = $4.00
The total payment over the 10-year term of the securities is $0.345 + $4.00 = $4.345 per security, representing a substantial
loss on your initial investment.
Example 2. On 20 determination dates prior to the final determination date, the index closing value is greater than or equal to
the downside threshold level of 925, and the index closing value on each other determination date prior to the final
determination date is less than the downside threshold level of 925. Therefore, you would receive the contingent payment
coupon of $0.115 with respect to those 20 determination dates, totaling $0.115 x 20 = $2.30. With respect to the remaining 19
determination dates before the final determination date, you would receive no contingent quarterly payment. On the final
determination date, the index closing value is 2,000, which is greater than the downside threshold level of 925. As the final
index value is greater than or equal to the downside threshold level, you would receive the stated principal amount plus a
contingent quarterly payment with respect to the final determination date, calculated as follows:
stated principal amount + contingent quarterly payment = $10 + $0.115 = $10.115
The total payment over the 10-year term of the securities is $2.30 + $10.115 = $12.415 per $10 stated principal amount
security.
Example 3. On each determination date prior to the final determination date, the index closing value is less than the downside
threshold level of 925. Therefore, you would not receive a contingent quarterly payment with respect to those determination
dates. On the final determination date, the index closing value is 555, which is less than the downside threshold level of 925.
As the final index value is less than the downside threshold level, you would receive a payment at maturity equal to the product
of the stated principal amount and the index performance factor, calculated as fol ows:
stated principal amount x (final index value / initial index value) = $10 x (555 / 1,850) $0.115 = $3.00
The total payment over the 10-year term of the securities is $3.00 per security, representing a substantial loss on your initial
investment.
Example 4. On each determination date prior to the final determination date, the index closing value is greater than or equal to
the downside threshold level of 925. Therefore, you would receive the contingent quarterly payment of $0.115 with respect to
8 of 25
1/23/2014 8:15 AM


http://www.sec.gov/Archives/edgar/data/19617/000089109214000409/e...
each of these determination dates, totaling $0.115 x 39 = $4.485. On the final determination date, the index closing value is
3,000, which is greater than the downside threshold level of 925. As the final index value is greater
January 2014
Page 5
9 of 25
1/23/2014 8:15 AM


http://www.sec.gov/Archives/edgar/data/19617/000089109214000409/e...
Contingent Income Securities due January 22, 2024
Based on the Performance of the S&P 500® Index
Principal at Risk Securities
than or equal to the downside threshold level, you would receive the stated principal amount plus a contingent quarterly
payment with respect to the final determination date, calculated as follows:
stated principal amount + contingent quarterly payment = $10 + $0.115 = $10.115
The total payment over the 10-year term of the securities is $4.485 + $10.115 = $14.60 per $10 stated principal amount
security.
This example represents the maximum amount payable over the 10-year term of the securities, and il ustrates that although the
value of the underlying index has appreciated significantly, the investor's return is limited to the contingent quarterly payments,
without any participation in the appreciation of the underlying index.
The hypothetical returns and hypothetical payments on the securities shown above apply only if you hold the securities for
their entire term. These hypotheticals do not reflect fees or expenses that would be associated with any sale in the
secondary market. If these fees and expenses were included, the hypothetical returns and hypothetical payments shown
above would likely be lower.
January 2014
Page 6
10 of 25
1/23/2014 8:15 AM