Obligation JPMorgan Chase 3.5% ( US48126DW625 ) en USD

JPMorgan Chase

100 % ⇌

Etas-Unis

US48126DW625 ( en USD )

3.5% par an ( paiement semestriel )

14/06/2028

Prospectus brochure de l'obligation JP Morgan US48126DW625 en USD 3.5%, échéance 14/06/2028

1 000 USD

48126DW62

N/A

14/12/2025 ( Dans 144 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 US48126DW625, paye un coupon de 3.5% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 14/06/2028

http://www.sec.gov/Archives/edgar/data/19617/000089109213005338/e...
424B2 1 e54140_424b2.htm PRICING SUPPLEMENT NO. 1463
CALCULATION OF REGISTRATION FEE
Maximum Aggregate
Amount of
Title of Each Class of Securities Offered
Offering Price
Registration Fee
Notes
$4,378,000
$597.16

1 of 8
6/13/2013 3:23 PM

http://www.sec.gov/Archives/edgar/data/19617/000089109213005338/e...

Pricing supplement no. 1463
Pricing supplement to
To prospectus dated November 14, 2011,
Product Supplement No. 1-II
prospectus supplement dated November 14, 2011 and
Registration Statement No. 333-177923
product supplement no. 1-II dated April 5, 2013
Dated June 11, 2013; Rule 424(b)(2)
JPMorgan Chase & Co.
$4,378,000
Callable Step-Up Fixed Rate Notes due June 14, 2028
General
· Unsecured and unsubordinated obligations of JPMorgan Chase & Co. maturing June 14, 2028, subject to postponement as described below.
· These notes are designed for an investor who seeks a fixed income investment, where the interest rate increases over time as described under
"Interest Rate" below, but is also wil ing to accept the risk that the notes wil be cal ed prior to the Maturity Date. Any payment on the notes is
subject to the credit risk of JPMorgan Chase & Co.
· Unless general interest rates rise significantly, you should not expect to earn the highest scheduled Interest Rate set forth below because the
notes are likely to be cal ed prior to maturity if interest rates remain the same or fal during the term of your notes. Additional y, the interest rate on
the notes does not step up significantly until later in the term of the notes. See "Selected Risk Considerations" in this pricing supplement.
· These notes have a relatively long maturity relative to other fixed income products. Longer dated notes may be more risky than shorter dated
notes. See "Selected Risk Considerations" in this pricing supplement.
· At our option, we may redeem the notes, in whole but not in part, on any of the Redemption Dates specified below.
· The notes may be purchased in minimum denominations of $1,000 and in integral multiples of $1,000 thereafter.
· The notes priced on June 11, 2013 and are expected to settle on or about June 14, 2013.
Key Terms
Payment at Maturity:
If your notes have not been previously cal ed on a Redemption Date, on the Maturity Date, we wil pay you the
outstanding principal amount of your notes plus any accrued and unpaid interest.
Call Feature:
On the 14th day of June and December of each year, beginning on June 14, 2018 and ending on the Maturity
Date (each, a "Redemption Date"), we may redeem your notes, in whole but not in part, at a price equal to
100% of the principal amount being redeemed plus any accrued and unpaid interest, subject to the Business
Day Convention and the Accrual Period Convention described below and in the accompanying product
supplement.
Interest:
We wil pay you interest on each Interest Payment Date based on the applicable Day Count Fraction and
subject to the Accrual Period Convention described below and in the accompanying product supplement.
Interest Period:
The period beginning on and including the Issue Date of the notes and ending on but excluding the first Interest
Payment Date, and each successive period beginning on and including an Interest Payment Date and ending on
but excluding the next succeeding Interest Payment Date, subject to the Accrual Period Convention described
below and in the accompanying product supplement no.1-II dated April 5, 2013.
Interest Payment Date:
Interest on the notes wil be payable semiannually in arrears on the 14th day of June and December of each
year, commencing on December 14, 2013, to and including the Maturity Date, subject to the Business Day
Convention and the Accrual Period Convention described below and in the accompanying product supplement.
Interest Rate:
For the applicable Interest Period, the Interest Rate on your notes wil be equal to:

From (and including)
To (but excluding)
Interest Rate

June 14, 2013
June 14, 2018
3.00% per annum

June 14, 2018
June 14, 2022
3.50% per annum

June 14, 2022
June 14, 2024
4.00% per annum

June 14, 2024
June 14, 2026
5.00% per annum

June 14, 2026
June 14, 2027
6.00% per annum

June 14, 2027
June 14, 2028
7.00% per annum

The dates above refer to original y scheduled Interest Payment Dates
Pricing Date:
June 11, 2013
Issue Date:
June 14, 2013, subject to the Business Day Convention.
Maturity Date:
June 14, 2028, subject to the Business Day Convention.
Business Day Convention:
Following
Accrual Period Convention:
Unadjusted
Day Count Fraction:
30/360
CUSIP:
48126DW62
2 of 8
6/13/2013 3:23 PM

http://www.sec.gov/Archives/edgar/data/19617/000089109213005338/e...
Investing in the notes involves a number of risks. See "Risk Factors" beginning on page PS-14 of the accompanying product supplement
no. 1-II and "Selected Risk Considerations" beginning on page PS-1 of this pricing supplement.
Neither the U.S. Securities and Exchange Commission nor any state securities commission has approved or disapproved of the notes or passed upon
the accuracy or the adequacy of this pricing supplement, the accompanying product supplement no. 1-II or the accompanying prospectus supplement
and prospectus. Any representation to the contrary is a criminal offense.

Price to Public (1)(2)
Fees and Commissions(1)(2)
Proceeds to Issuer
Per note
$1,000
$17.50
$982.50
Total
$4,378,000
$76,615
$4,301,385
(1) The price to the public includes the estimated cost of hedging our obligations under the notes through one or more of our affiliates.
(2) J.P. Morgan Securities LLC, which we refer to as JPMS, acting as agent for JPMorgan Chase & Co., wil pay al of the sel ing commissions it
receives from us to other affiliated or unaffiliated dealers. JPMS wil receive a commission of $17.50 per $1,000 principal amount note. See "Plan of
Distribution (Conflicts of Interest)" beginning on page PS-43 of the accompanying product supplement no. 1-II.
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.

June 11, 2013

3 of 8
6/13/2013 3:23 PM

http://www.sec.gov/Archives/edgar/data/19617/000089109213005338/e...

Additional Terms Specific to the Notes
You should read this pricing supplement 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. 1-II dated April 5, 2013. This pricing supplement, together with the documents listed below, contains the terms of the notes,
supplements the term sheet related hereto, dated May 29, 2013, 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, 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. 1-II, as the notes involve risks not associated with conventional debt securities.
We urge you to consult your investment, legal, tax, accounting and other advisers before you invest in the notes.
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. 1-II dated April 5, 2013:
http://www.sec.gov/Archives/edgar/data/19617/000089109213003066/e53030_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 pricing supplement, the "Company," "we," "us," or "our" refers to
JPMorgan Chase & Co.
Selected Purchase Considerations
· PRESERVATION OF CAPITAL -- We wil pay you at least 100% of the principal amount of your notes if you hold the notes to maturity or to the
Redemption Date, if any, on which we elect to cal the notes. Because the notes are our unsecured and unsubordinated obligations, payment of
any amount at maturity or upon early redemption is subject to our ability to pay our obligations as they become due.
· PERIODIC INTEREST PAYMENTS -- The notes offer periodic interest payments on each Interest Payment Date at the applicable Interest Rate.
Interest, if any, wil be paid in arrears on each Interest Payment Date, to the holders of record at the close of business on the business day
immediately preceding the applicable Interest Payment Date. The interest payments wil be based on the Interest Rate listed on the cover of this
pricing supplement. The yield on the notes may be less than the overal return you would receive from a conventional debt security that you could
purchase today with the same maturity as the notes.
· POTENTIAL PERIODIC REDEMPTION BY US AT OUR OPTION -- At our option, we may redeem the notes, in whole but not in part, for a cash
payment equal to $1,000 for each $1,000 principal amount note plus any accrued and unpaid interest, subject to the Business Day Convention and
the Accrual Period Convention described on the cover of this pricing supplement and in the accompanying product supplement.
· TAX TREATMENT You should review careful y the section entitled "Material U.S. Federal Income Tax Consequences" in the accompanying
product supplement no. 1-II. During the term of the notes, 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. Notwithstanding the foregoing discussion, because the
period between the last step-up date and the final maturity date does not exceed one year, on the deemed reissuance on June 14, 2027, solely for
the purpose of determining original issue discount, the notes should be treated as "short-term debt instruments" for the final period. Prospective
purchasers are urged to consult their own tax advisers regarding the U.S. federal income tax consequences of an investment in the notes, including
with respect to the treatment of short-term debt instruments. 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.
Subject to certain assumptions and representations received from us, the discussion in this section entitled "Tax Treatment", when read in
combination with the section entitled "Material U.S. Federal Income Tax Consequences" in the accompanying product supplement, constitutes the
full opinion of Sidley Austin LLP regarding the material U.S. federal income tax treatment of owning and disposing of the notes.
Selected Risk Considerations
An investment in the notes involves significant risks. These risks are explained in more detail in the "Risk Factors" section of the accompanying product
supplement no. 1-II dated April 5, 2013.
· WE MAY CALL YOUR NOTES PRIOR TO THEIR SCHEDULED MATURITY DATE -- We may choose to cal the notes early or choose not to
cal the notes early on any Redemption Date in our sole discretion. If the notes are cal ed early, you wil receive the principal amount of your notes
plus accrued and unpaid interest to, but not including the Redemption Date. The aggregate amount that you wil receive through and including the
Redemption Date wil be less than the aggregate amount that you would have received had the notes not been cal ed early. If we cal the notes
early, your overal return may be less than the yield which the notes would have earned if you held your notes to maturity and you may not be able
to reinvest your funds at the same rate as the original note. We may choose to cal the notes early, for example, if U.S. interest rates decrease
significantly or if volatility of U.S. interest rates decreases significantly.
· STEP-UP NOTES PRESENT DIFFERENT INVESTMENT CONSIDERATIONS THAN FIXED RATE NOTES -- The rate of interest paid by us on
the notes wil increase upward from the initial stated rate of interest of the notes. The notes are cal able by us, in whole but not in part, prior to
maturity and, therefore, contain the cal risk described above. If we do not cal the notes, the interest rate wil step up as described on the cover of
this pricing supplement. Unless general interest rates rise significantly, you should not expect to earn the highest scheduled Interest Rate set forth
on the front cover because the notes are likely to be cal ed prior to maturity if interest rates remain the same or fal during the term of your notes.
When determining whether to invest in a stepped-up rate note, you should not focus on the highest stated Interest Rate, which usual y is the final
stepped-up rate of interest. You should instead focus on, among other things, the overall annual percentage rate of interest to maturity or cal as
compared to other equivalent investment alternatives.
· LONGER DATED NOTES MAY BE MORE RISKY THAN SHORTER DATED NOTES -- By purchasing a note with a longer tenor, you are more
exposed to fluctuations in interest rates than if you purchased a note with a shorter tenor. Specifical y, you may be negatively affected if certain
interest rate scenarios occur. For example, if interest rates begin to rise, the market value of your notes wil decline because the likelihood of us
4 of 8
6/13/2013 3:23 PM

http://www.sec.gov/Archives/edgar/data/19617/000089109213005338/e...
cal ing your notes wil decline and the interest rate you are receiving for that specific Interest Period may be less than a note issued at such time.
· THE INTEREST RATE OF THE NOTES DOES NOT STEP UP SIGNIFICANTLY UNTIL LATER IN THE TERM OF THE NOTES -- Unless
general interest rates rise significantly, you should not expect to earn the highest scheduled Interest Rate set forth on the front cover because the
notes are likely to be cal ed prior to maturity if interest rates remain the same or fal during the term of your notes. Additional y, the interest rate on
the notes does not step up significantly until later in the term of the notes. If interest rates rise faster than the incremental increases in the interest
rates of the notes, the notes may have an interest rate that is significantly lower than the interest rates at that time and the secondary market
value of
Callable Step-Up Fixed Rate Notes
PS-1

5 of 8
6/13/2013 3:23 PM

http://www.sec.gov/Archives/edgar/data/19617/000089109213005338/e...

the notes may be significantly lower than other instruments with a similar term but higher interest rates. In other words, you should only purchase
the notes if you are comfortable receiving the stated interest rates set forth on the front cover of this pricing supplement for the entire term of the
notes.
· CREDIT RISK OF JPMORGAN CHASE & CO. -- The notes are subject to the credit risk of JPMorgan Chase & Co., and our credit ratings and
credit spreads may adversely affect the market value of the notes. Investors are dependent on JPMorgan Chase & Co.'s ability to pay al amounts
due on the notes, and therefore investors are subject to our credit risk and to changes in the market's view of our creditworthiness. Any 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. If we were to default on our payment obligations, you may not receive any amounts owed to you under the notes and you could lose your
entire investment.
· POTENTIAL CONFLICTS -- We and our affiliates play a variety of roles in connection with the issuance of the 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 potential y 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 -- Risks
Relating to the Notes General y" in the accompanying product supplement for additional information about these risks.
· CERTAIN BUILT-IN COSTS ARE LIKELY TO ADVERSELY AFFECT THE VALUE OF THE NOTES PRIOR TO MATURITY -- While the payment
at maturity or upon early redemption, as applicable, described in this pricing supplement is based on the ful principal amount of your notes, the
original issue price of the notes includes the estimated cost of hedging our obligations under the notes. As a result, the price, if any, at which
JPMS wil be wil ing to purchase notes from you in secondary market transactions, if at al , wil likely be lower than the original issue price, and any
sale prior to the maturity date could result in a substantial loss to you. 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.
· LACK OF LIQUIDITY -- The notes wil not be listed on any securities exchange. JPMS intends to offer to purchase the notes in the secondary
market but is not required to do so. Even if there is a secondary market, it may not provide enough liquidity to al ow you to trade or sel the notes
easily. Because other dealers are not likely to make a 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.
· MANY ECONOMIC AND MARKET FACTORS WILL IMPACT THE VALUE OF THE NOTES -- The notes wil be affected by a number of
economic and market factors that may either offset or magnify each other, including but not limited to:
·
the time to maturity of the notes;
·
interest and yield rates in the market general y, as wel as the volatility of those rates;
·
the likelihood, or expectation, that the notes wil be redeemed by us, based on prevailing market interest rates or otherwise; and
·
our creditworthiness, including actual or anticipated downgrades in our credit ratings.
Hypothetical Examples of Calculation of the Interest Rate on the Notes for an Interest Period
The fol owing examples il ustrate how the hypothetical Interest Rates for an Interest Period are calculated if we choose to cal the notes early or choose
not to cal the notes early on any Redemption Date in our sole discretion, assuming that the number of calendar days in the applicable Interest Period is
180.
Example 1: If we choose to call the notes early on a Redemption Date and the Redemption Date is June 14, 2018, we wil pay you $1,000 for
each $1,000 principal amount note plus any accrued and unpaid interest at an Interest Rate equal to 3.00% per annum. Therefore, the interest payment
per $1,000 principal amount note on the Redemption Date wil be calculated as fol ows:
$1,000 × 3.00% × (180/360) = $15.00
We wil pay you a principal payment of $1,000 for each $1,000 principal amount note on such Redemption Date. Therefore, you wil receive $1,015.00
for each $1,000 principal amount note ($1,000 of principal plus $15.00 of interest) on such Redemption Date, but you wil not receive any further
interest or principal payments from us.
Example 2: If we choose not to call the notes early on a Redemption Date and the Interest Payment Date is June 14, 2018, we wil pay you any
accrued and unpaid interest on the applicable Interest Payment Date at an Interest Rate equal to 3.00% per annum. Therefore, the interest payment
per $1,000 principal amount note wil be calculated as fol ows:
$1,000 × 3.00% × (180/360) = $15.00
We wil pay you an interest payment of $15.00 for each $1,000 principal amount note on such Interest Payment Date. Because the notes have not been
cal ed, you wil be entitled to receive additional interest payments and a payment of principal at maturity or on the applicable Redemption Date, if any.
Example 3: If we choose not to call the notes prior to the Maturity Date and today is the Maturity Date, we wil pay you $1,000 for each $1,000
principal amount note plus any accrued and unpaid interest on such Maturity Date at an Interest Rate equal to 7.00% per annum. Therefore, the interest
payment per $1,000 principal amount note on the Maturity Date wil be calculated as fol ows:
$1,000 × 7.00% × (180/360) = $35.00
We wil pay you a principal payment of $1,000 for each $1,000 principal amount note on such Maturity Date. Therefore, you wil receive $1,035.00 for
each $1,000 principal amount note ($1,000 of principal plus $35.00 of interest) on such Maturity Date, and you wil not receive any further interest or
principal payments from us.
Validity of the Notes
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 generally, concepts of reasonableness and equitable principles of general applicability (including, without limitation, concepts
of good faith, fair
6 of 8
6/13/2013 3:23 PM

http://www.sec.gov/Archives/edgar/data/19617/000089109213005338/e...
Callable Step-Up Fixed Rate Notes
PS-2

7 of 8
6/13/2013 3:23 PM

http://www.sec.gov/Archives/edgar/data/19617/000089109213005338/e...

dealing and the lack of bad faith), provided that such counsel expresses no opinion as to the 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, al 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.
Callable Step-Up Fixed Rate Notes
PS-3
8 of 8
6/13/2013 3:23 PM