Obligation JPMorgan Chase 4% ( US48125VLF57 ) en USD

JPMorgan Chase

100 % ▼

Etas-Unis

US48125VLF57 ( en USD )

4% par an ( paiement semestriel )

02/03/2027

Prospectus brochure de l'obligation JP Morgan US48125VLF57 en USD 4%, échéance 02/03/2027

1 000 USD

48125VLF5

N/A

02/09/2025 ( Dans 41 jours )

JPMorgan Chase & Co. est une société multinationale de services financiers américaine, offrant des services bancaires d'investissement, de gestion de patrimoine, de banque commerciale et de cartes de crédit à une clientèle mondiale.

L'Obligation émise par JPMorgan Chase ( Etas-Unis ) , en USD, avec le code ISIN US48125VLF57, paye un coupon de 4% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 02/03/2027

http://www.sec.gov/Archives/edgar/data/19617/000089109212001370/e...
424B2 1 e47605_424b2.htm PRICING SUPPLEMENT NO. 219
CALCULATION OF REGISTRATION FEE
Title of Each Class of
Maximum Aggregate
Amount of
Securities Offered
Offering Price
Registration Fee
Notes
$19,998,000
$2,291.77

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March 2012
Pricing Supplement No. 219
Registration Statement No. 333-177923
Dated February 28, 2012
Filed pursuant to Rule 424(b)(2)
INTEREST RATE STRUCTURED INVESTMENTS
Senior Fixed Rate Step-Up Callable Notes due March 2, 2027
Global Medium-Term Notes, Series E
We, JPMorgan Chase & Co., have the right to redeem the notes on any semi-annual redemption date, beginning March
2, 2013. Subject to our semi-annual redemption right, the amount of interest payable on the notes wil be (i) Years 1-5:
3.75% per annum, (i ) Years 6-10: 4.00% per annum, (i i) Years 11-12: 4.50% per annum, (iv) Years 13-14: 5.50% per
annum and (v) Year 15: 7.00% per annum, payable semi-annual y. Al payments on the notes, including the repayment of
principal, are subject to the credit risk of JPMorgan Chase & Co.
FINAL TERMS
Issuer:
JPMorgan Chase & Co.
Aggregate principal
$19,998,000
amount:
Stated principal amount: $1,000 per note
Issue price:
$1,000 per note (see "Commissions and Issue Price" below)
Pricing date:
February 28, 2012
Original issue date:
March 2, 2012 (3 business days after the pricing date)
Interest accrual date:
March 2, 2012
Maturity date:
March 2, 2027
Interest rate:
3.75% per annum, from and including the original issue date to but excluding March 2, 2017;
4.00% per annum, from and including March 2, 2017 to but excluding March 2, 2022;
4.50% per annum, from and including March 2, 2022 to but excluding March 2, 2024;
5.50% per annum, from and including March 2, 2024 to but excluding March 2, 2026; and
7.00% per annum, from and including March 2, 2026 to but excluding the maturity date.
Interest payment period: Semi-Annually
Interest payment dates:
Each March 2 and September 2, beginning September 2, 2012; 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.
Day-count convention:
30/360
Redemption:
Beginning March 2, 2013, we have the right to redeem all of these notes on any semi-annual
redemption date and pay to you 100% of the stated principal amount per note plus accrued and
unpaid interest to but excluding the date of such redemption. If we decide to redeem the notes, we will
give you notice at least 10 calendar days before the redemption date specified in the notice.
Redemption percentage at100%
redemption date:
Redemption dates:
Each March 2 and September 2, beginning March 2, 2013
Specified currency:
U.S. dollars
Trustee:
Deutsche Bank Trust Company Americas (formerly Bankers Trust Company)
Calculation agent:
J.P. Morgan Securities LLC ("JPMS")
Listing:
The notes will not be listed on any securities exchange.
Denominations:
$1,000 / $1,000
CUSIP / ISIN:
48125VLF5 / US48125VLF57
Book-entry or certificated Book-entry
note:
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Business day:
New York
Agent:
JPMS
Commissions and issue
Fees and
price:
Price to Public(1)
Commissions(2)
Proceeds to Issuer
Per Note
$1,000
$17.50
$982.50
Total
$19,998,000
$349,965
$19,648,035
(1) The price to the public includes the estimated cost of hedging our obligations under the notes through one or more of our
affiliates, which includes our affiliates' expected cost of providing such hedge as well as the profit our affiliates expect to
realize in consideration for assuming the risks inherent in providing such hedge. For additional related information, please see
"Use of Proceeds" on PS-7 of the accompanying product supplement no. MS-3-I.
(2) JPMS, acting as agent for JPMorgan Chase & Co., received a commission of $17.50 and used all of that commission to allow
selling concessions to Morgan Stanley Smith Barney LLC ("MSSB"). See "Plan of Distribution (Conflicts of Interest)" beginning
on page PS-13 of the accompanying product supplement no. MS-3-I.
Investing in the notes involves a number of risks. See "Risk Factors" beginning on page PS-4 of the
accompanying product supplement no. MS-3-I and "Risk Factors" beginning on page 2 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 document or the
accompanying prospectus supplement and prospectus. Any representation to the contrary is a criminal
offense.
The notes are not bank deposits and are not insured or guaranteed 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-3-I, PROSPECTUS
SUPPLEMENT AND PROSPECTUS, EACH OF WHICH CAN BE ACCESSED VIA THE HYPERLINKS BELOW.
Product supplement no. MS-3-I dated November 14, 2011: http://www.sec.gov/Archives/edgar/data/19617
/000089109211007611/e46193_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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Senior Fixed Rate Step-Up Cal able Notes due March 2, 2027
You should review careful y the section entitled "Material U.S. Federal Income Tax Consequences" in the accompanying
product supplement no. MS-3-I. If you are a "U.S. Holder" (as defined in the section entitled "Material U.S. Federal
Income Tax Consequences" in the accompanying product supplement no. MS-3-I), interest paid on the notes wil
general y be taxable to you as ordinary interest income at the time it accrues or is received in accordance with your
method of accounting for U.S. federal income tax purposes. In general, gain or loss realized on the sale, exchange or
other disposition of the notes wil be capital gain or loss and wil be long-term capital gain or loss if you have held the
notes for more than one year at the time of such sale, exchange or disposition. If you are a "Non-U.S. Holder" (as
defined in the section entitled "Material U.S. Federal Income Tax Consequences" in the accompanying product
supplement), see the section entitled "Material U.S. Federal Income Tax Consequences" in the accompanying product
supplement no. MS-3-I for a discussion of the U.S. federal income tax consequences of an investment in the notes.
Prospective purchasers are urged to consult their own tax advisers regarding the U.S. federal income tax consequences
of an investment in the notes. Purchasers who are not initial purchasers of notes at their issue price on the issue date
should consult their tax advisers with respect to the tax consequences of an investment in the notes, and the potential
application of special rules.
The discussion in this section entitled "Tax Considerations", when read in combination with the section entitled "Material
U.S. Federal Income Tax Consequences" in the accompanying product supplement no. MS-3-I, constitutes the ful
opinion of Sidley Austin LLP regarding the U.S. federal income tax treatment of owning and disposing of the notes.
The notes offered are senior unsecured obligations of JPMorgan Chase & Co. We describe the basic features of these
notes in the sections of the accompanying prospectus cal ed "Description of Debt Securities," the accompanying
prospectus supplement called "Description of Notes" and the accompanying product supplement no. MS-3-I called
"Description of Notes," subject to and as modified by the provisions described above. Al payments on the notes are
subject to the credit risk of JPMorgan Chase & Co.
The following is a non-exhaustive list of certain key risk factors for investors in the notes. For further discussion of
these and other risks, you should read the section entitled "Risk Factors" beginning on page PS-4 of the accompanying
product supplement no. MS-3-I. We also urge you to consult your investment, legal, tax, accounting and other
advisers.
§ Early redemption risk. The issuer retains the option to redeem the notes on any semi-annual redemption date,
beginning on March 2, 2013. It is more likely that the issuer wil redeem the notes prior to their stated maturity date
to the extent that the interest payable on the notes is greater than the interest that would be payable on other
instruments of the issuer of a comparable maturity, terms and credit rating trading in the market. If the notes are
redeemed prior to their stated maturity date, you may have to re-invest the proceeds in a lower rate environment.
§ These notes may be riskier than notes with a shorter term. By purchasing a note with a longer term, you are
more exposed to fluctuations in interest rates than if you purchased a note with a shorter term. Specifical y, you
may be negatively affected if certain interest rate scenarios occur. General y, if the prevailing interest rate begins to
rise, the market value of your notes may decline because the yield to maturity on the notes may be less than the
interest rate on a note issued at such time. For example, if the yield to maturity on the notes at such time was
3.75% per annum, but a debt security issued in the then current market could yield an interest rate of 7.00% per
annum, your note may be less valuable if you tried to sel your note in the secondary market.
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§ The notes are subject to the credit risk of JPMorgan Chase & Co., and any actual or anticipated changes
to our credit ratings or credit spreads may adversely affect the market value of the notes. Investors are
dependent on JPMorgan Chase & Co.'s ability to pay all amounts due on the notes at maturity, and therefore
investors are subject to our credit risk and to changes in the market's view of our creditworthiness. Any actual or
anticipated decline in our credit ratings or increase in the credit spreads charged by the market for taking our credit
risk is likely to adversely affect the value of the notes.
§ Economic interests of the calculation agent and other affiliates of the issuer may be different from those of
investors. We and our affiliates play a variety of roles in connection with the issuance of the
March 2012
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Senior Fixed Rate Step-Up Cal able Notes due March 2, 2027
notes, including acting as calculation agent and hedging our obligations under the notes. In performing these duties,
our economic interests and the economic interests of the calculation agent and other affiliates of ours are potentially
adverse to your interests as an investor in the notes. In addition, our business activities, including hedging and
trading activities for our own accounts or on behalf of customers, could cause our economic interests to be adverse
to yours and could adversely affect any payments on the notes and the value of the notes. It is possible that
hedging or trading activities of ours or our affiliates could result in substantial returns for us or our affiliates while the
value of the notes declines. Please refer to "Risk Factors" beginning on page PS-4 of the accompanying product
supplement no. MS-3-I.
§ The market price of the notes is influenced by many unpredictable factors. Several factors wil influence the
value of the notes in the secondary market and the price at which JPMS may be wil ing to purchase or sel the
notes in the secondary market, including: (i) changes in (and volatility of) U.S. interest rates, (i ) the likelihood, or
expectation, that the notes wil be redeemed by us prior to maturity (i i) any actual or anticipated changes in our
credit ratings or credit spreads, (iv) a variety of economic, financial, regulatory and judicial events and (v) time
remaining to maturity.
§ The inclusion in the original issue price of commissions and estimated cost of hedging is likely to affect
adversely secondary market prices. Assuming no change in market conditions or any other relevant factors, the
price, if any, at which JPMS is wil ing to purchase the notes in secondary market transactions wil likely be lower
than the original issue price, because the original issue price wil include, and secondary market prices are likely to
exclude, commissions paid with respect to the notes, as wel as the estimated cost of hedging the issuer's
obligations under the notes. In addition, any such prices may differ from values determined by pricing models used
by JPMS, as a result of dealer discounts, mark-ups or other transaction costs. The notes are not designed to be
short-term trading instruments. Accordingly, you should be able and wil ing to hold your notes to maturity.
§ Secondary trading may be limited. The notes wil not be listed on a securities exchange. There may be little or no
secondary market for the notes. Even if there is a secondary market, it may not provide enough liquidity to al ow
you to trade or sel the notes easily. JPMS may act as a market maker for the notes, but is not required to do so.
Because we do not expect that other market makers wil participate significantly in the secondary market for the
notes, the price at which you may be able to trade your notes is likely to depend on the price, if any, at which JPMS
is wil ing to buy the notes. If at any time JPMS or another agent does not act as a market maker, it is likely that
there would be little or no secondary market for the notes.
§ JPMS and its affiliates may have published research, expressed opinions or provided recommendations
that are inconsistent with investing in or holding the notes. Any such research, opinions, or
recommendations could affect the market value of the notes. JPMS and its affiliates publish research from
time to time on movements in interest rates, the financial markets and other matters that may influence the value of
the notes, or express opinions or provide recommendations that are inconsistent with purchasing or holding the
notes. JPMS and its affiliates may have published research or other opinions that cal into question the investment
view implicit in an investment in the notes. Any research, opinions or recommendations expressed by JPMS or its
affiliates may not be consistent with each other and may be modified from time to time without notice. Investors
should make their own independent investigation of the merits of investing in the notes.
March 2012
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Senior Fixed Rate Step-Up Cal able Notes due March 2, 2027
Subject to regulatory constraints, JPMS intends to use its reasonable efforts to offer to purchase the notes in the
secondary market, but is not required to do so.
We or our affiliate may enter into swap agreements or related hedge transactions with one of our other affiliates or
unaffiliated counterparties in connection with the sale of the notes and JPMS and/or an affiliate may earn additional
income as a result of payments pursuant to the swap or related hedge transactions. See "Use of Proceeds" beginning on
page PS-7 of the accompanying product supplement no. MS-3-I.
You should read this document together with the prospectus dated November 14, 2011, as supplemented by the
prospectus supplement dated November 14, 2011 relating to our Series E medium-term notes of which these notes are
a part, and the more detailed information contained in product supplement no. MS-3-I dated November 14, 2011.
This document, together with the documents listed below, contains the terms of the notes, supplements the
preliminary terms related hereto dated February 8, 2012 and supersedes all other prior or contemporaneous
oral statements as well as any other written materials including preliminary or indicative pricing terms,
correspondence, trade ideas, structures for implementation, sample structures, stand-alone fact sheets,
brochures or other educational materials of ours. You should careful y consider, among other things, the matters set
forth in "Risk Factors" in the accompanying product supplement no. MS-3-I. We urge you to consult your investment,
legal, tax, accounting and other advisers.
You may access these documents on the SEC website at www.sec.gov as fol ows (or if such address has changed, by
reviewing our filings for the relevant date on the SEC website):
· Product supplement no. MS-3-I dated November 14, 2011:
http://www.sec.gov/Archives/edgar/data/19617/000089109211007611/e46193_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
Our Central Index Key, or CIK, on the SEC website is 19617.
As used in this document, the "Company," "we," "us," or "our" refers to JPMorgan Chase & Co.
Morgan Stanley Smith Barney clients may contact their local Morgan Stanley Smith Barney branch office or Morgan
Stanley Smith Barney's principal executive offices at 2000 Westchester Avenue, Purchase, New York 10577 (telephone
number (800) 869-3326).
In the opinion of Sidley Austin LLP, as counsel to the Company, when the notes offered by this pricing supplement have
been executed and issued by the Company and authenticated by the trustee pursuant to the indenture, and delivered
against payment as contemplated herein, such notes wil be valid and binding obligations of the Company, enforceable in
accordance with their terms, subject to applicable bankruptcy, insolvency and similar laws affecting creditors' rights
general y, concepts of reasonableness and equitable principles of general applicability (including, without limitation,
concepts of good faith, fair dealing and the lack of bad faith), provided that such counsel expresses no opinion as to the
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effect of fraudulent conveyance, fraudulent transfer or similar provision of applicable law on the conclusions expressed
above. This opinion is given as of the date hereof and is limited to the Federal laws of the United States, the laws of the
State of New York and the General Corporation Law of the State of Delaware as in effect on the date hereof. In
addition, this opinion is subject to customary assumptions about the trustee's authorization, execution and delivery of the
indenture and the genuineness of signatures and certain factual matters, all as stated in the letter of such counsel dated
November 14, 2011, which has been filed as Exhibit 5.3 to the Company's registration statement on Form S-3 filed with
the Securities and Exchange Commission on November 14, 2011.
March 2012
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