Obligation JPMorgan Chase 1% ( US48126NTH07 ) en USD

JPMorgan Chase

100 % ▲

Etas-Unis

US48126NTH07 ( en USD )

1% par an ( paiement semestriel )

11/12/2023 - Obligation échue

Prospectus brochure de l'obligation JP Morgan US48126NTH07 en USD 1%, échue

1 000 USD

253 000 USD

48126NTH0

A- ( Qualité moyenne supérieure )

A2 ( Qualité moyenne supérieure )

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 US48126NTH07, paye un coupon de 1% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 11/12/2023

L'Obligation émise par JPMorgan Chase ( Etas-Unis ) , en USD, avec le code ISIN US48126NTH07, a été notée A2 ( Qualité moyenne supérieure ) par l'agence de notation Moody's.

L'Obligation émise par JPMorgan Chase ( Etas-Unis ) , en USD, avec le code ISIN US48126NTH07, a été notée A- ( Qualité moyenne supérieure ) par l'agence de notation Standard & Poor's ( S&P ).

http://www.sec.gov/Archives/edgar/data/19617/000089109213009967/e...
424B2 1 e56559_424b2.htm PRICING SUPPLEMENT NO. 1982
CALCULATION OF REGISTRATION FEE
Maximum Aggregate
Amount of
Title of Each Class of Securities Offered
Offering Price
Registration Fee
Notes
$253,000
$32.59

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Pricing Supplement no. 1982
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 December 6, 2013; Rule 424(b)(2)

Fixed to Floating Rate Notes Linked to 3-Month USD LIBOR due December 11, 2023
$253,000
General
· Unsecured and unsubordinated obligations of JPMorgan Chase & Co. maturing December 11, 2023.
· The notes are designed for investors who seek periodic interest payments that (a) for the Initial Interest Periods,
are fixed at 2.50% per annum, and then for all subsequent Interest Periods are linked to 3-Month USD LIBOR as
determined on each Interest Reset Date plus 0.30%, provided that such rate wil not be less than the Minimum
Interest Rate of 1.00% per annum, and (b) return of their initial investment at maturity. Any payment on the notes
is subject to the credit risk of JPMorgan Chase & Co.
· 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.
· The notes may be purchased in minimum denominations of $1,000 and in integral multiples of $1,000 thereafter.
· The notes priced on December 6, 2013 and are expected to settle on or about December 11, 2013.
Key Terms
Payment at Maturity:
On the Maturity Date, we wil pay you the outstanding principal amount of your notes plus
any accrued and unpaid interest.
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.
Initial Interest Period(s):
The Interest Periods beginning on and including the Issue Date of the notes and ending
on but excluding December 11, 2017.
Initial Interest Rate:
2.50% per annum
Interest Periods:
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.
Interest Payment Dates:
Interest on the notes wil be payable in arrears on the 11th day of March, June,
September and December of each year, commencing on March 11, 2014, to and
including the Maturity Date, subject to the Business Day Convention and Accrual Period
Convention described below and in the accompanying product supplement.
Interest Rate:
With respect to each Initial Interest Period, a rate equal to 2.50% per annum, and with
respect to each Interest Period thereafter, a rate per annum equal to 3-Month USD
LIBOR plus 0.30%, as determined on each applicable Interest Reset Date, provided that
such rate wil not be less than the Minimum Interest Rate.
Minimum Interest Rate:
1.00% per annum
3-Month USD LIBOR:
3-Month USD LIBOR refers to the London Interbank Offered Rate for deposits in U.S.
dol ars with a Designated Maturity of 3 months that appears on the Reuters page
"LIBOR01" (or any successor page) under the heading "3Mo" at approximately 11:00
a.m., London time, on the applicable Interest Reset Date, as determined by the
calculation agent. If on the applicable Interest Reset Date, 3-Month USD LIBOR cannot
be determined by reference to Reuters page "LIBOR01" (or any successor page), then
the calculation agent wil determine 3-Month USD LIBOR in accordance with the
procedures set forth under "Description of Notes -- Interest -- The Underlying Rates --
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LIBOR Rate" in the accompanying product supplement no. 1-II.
Interest Reset Date:
Two London Business Days immediately prior to the beginning of the applicable Interest
Period.
London Business Day:
Any day other than a day on which banking institutions in London, England are authorized
or required by law, regulation or executive order to close.
Business Day:
Any day other than a day on which banking institutions in The City of New York are
authorized or required by law, regulation or executive order to close or a day on which
transactions in U.S. dol ars are not conducted.
Pricing Date:
December 6, 2013
Issue Date:
December 11, 2013, subject to the Business Day Convention.
Maturity Date:
December 11, 2023, subject to the Business Day Convention.
Business Day Convention:
Fol owing
Accrual Period Convention:
Unadjusted
Day Count Fraction:
30/360
CUSIP:
48126NTH0
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, or 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
product supplement, prospectus supplement and prospectus. Any representation to the contrary is a criminal offense.
Fees and Commissions

Price to Public (1)
(2)
Proceeds to Us
Per note
$1,000
$12.50
$987.50
Total
$253,000
$3,162.50
$249,837.50
(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 selling commissions of $12.50 per $1,000 principal amount note it receives from us to other affiliated or unaffiliated
dealers. 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.
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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 November 18, 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 and "Selected Risk Considerations" below, 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 AT MATURITY Regardless of the performance of 3-Month USD LIBOR, we wil
pay you at least the principal amount of your notes if you hold the notes to maturity. Because the notes are our
unsecured and unsubordinated obligations, payment of any amount at maturity 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.
With respect to the Initial Interest Periods, your notes wil pay an annual interest rate equal to the Initial Interest
Rate, and for the applicable Interest Periods thereafter, your notes wil pay a rate per annum equal to 3-Month USD
LIBOR plus 0.30%, provided that such rate wil not be less than the Minimum Interest Rate. The yield on the notes
may be less than the overall return you would receive from a conventional debt security that you could purchase
today with the same maturity as the notes.
· TREATED AS VARIABLE RATE DEBT INSTRUMENTS You should review careful y the section entitled "Material
U.S. Federal Income Tax Consequences" in the accompanying product supplement no. 1-II. You and we agree to
treat the notes as "variable rate debt instruments" for U.S. federal income tax purposes. Assuming this
characterization is respected, 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, except to the extent of original discount issue, if any. In addition, a U.S. Holder (as defined in the
accompanying product supplement) must include original issue discount, if any, in income as ordinary interest as it
accrues, general y in advance of receipt of cash attributable to such income. In general, gain or loss realized on the
sale, exchange or other disposition of the notes wil be capital gain or loss. 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.
Subject to certain assumptions and representations received from us, the discussion in this section entitled "Treated
As Variable Rate Debt Instruments", when read in combination with the section entitled "Material U.S. Federal
Income Tax Consequences" in the accompanying product supplement, constitutes the ful opinion of Sidley Austin
LLP regarding the material U.S. federal income tax treatment of owning and disposing of the notes.
Selected Risk Considerations
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· THE NOTES ARE NOT ORDINARY DEBT SECURITIES BECAUSE, OTHER THAN THE INITIAL INTEREST
PERIODS, THE INTEREST RATE ON THE NOTES IS A FLOATING RATE AND MAY BE EQUAL TO THE
MINIMUM INTEREST RATE With respect to the Initial Interest Period, your notes wil pay an annual interest rate
equal to the Initial Interest Rate, and for the applicable Interest Periods thereafter, your notes wil pay a rate per
annum equal to 3-Month USD LIBOR plus 0.30%, provided that such rate wil not be less than the Minimum Interest
Rate.
· AFTER THE INITIAL INTEREST PERIODS, THE INTEREST RATE ON THE NOTES IS BASED ON 3-MONTH
USD LIBOR OVER WHICH WE HAVE NO SUBSTANTIVE CONTROL The amount of interest, if any, payable on
the notes wil depend on a number of factors that could affect the levels of 3-Month USD LIBOR, and in turn, could
affect the value of the notes. These factors include (but are not limited to) the expected volatility of 3-Month USD
LIBOR, supply and demand among banks in London for U.S. dol ar-denominated deposits with approximately a
three month term, interest and yield rates in the market general y, the performance of capital markets, monetary
policies, fiscal policies, regulatory or judicial events, inflation, general economic conditions, and public expectations
with respect to such factors. These and other factors may have a negative impact on the Interest Rate and on the
value of the notes in the secondary market. The effect that any single factor may have on 3-Month USD LIBOR may
be partial y offset by other factors. We cannot predict the factors that may cause 3-Month USD LIBOR, and
consequently the Interest Rate for an Interest Period (other than an Initial Interest Period), to increase or decrease.
A decrease in 3-Month USD LIBOR wil result in a reduction of the applicable Interest Rate used to calculate the
Interest for any Interest Period other than an Initial Interest Period.
· FLOATING RATE NOTES DIFFER FROM FIXED RATE NOTES after the Initial Interest Periods, the rate of
interest on your notes wil be a floating rate and determined based on 3-Month USD LIBOR plus 0.30%, provided
that such rate wil not be less than the Minimum Interest Rate, which may be less than returns otherwise payable on
notes
Fixed to Floating Rate Notes Linked to 3-Month USD LIBOR
PS-1

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issued by us with similar maturities. You should consider, among other things, the overal potential annual percentage
rate of interest to maturity of the notes as compared to other 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. Specifically, you may be negatively affected if certain interest rate scenarios occur. The applicable discount
rate, which is the prevailing rate in the market for notes of the same tenor, wil likely be higher for notes with longer
tenors than if you had purchased a note with a shorter tenor. Therefore, assuming that short term rates rise, the
market value of a longer dated note wil be lower than the market value of a comparable short term note with
similar terms.
· 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 all 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 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 -- Risks Relating to the Notes General y" in the
accompanying product supplement for additional information about these risks.
· 3-MONTH USD LIBOR WILL BE AFFECTED BY A NUMBER OF FACTORS -- The amount of interest payable on
the notes after the Initial Interest Periods wil depend on 3-Month USD LIBOR. A number of factors can affect
3-Month USD LIBOR by causing changes in the value of 3-Month USD LIBOR including, but not limited to:
· changes in, or perceptions, about future 3-Month USD LIBOR levels;
· general economic conditions in the United States;
· prevailing interest rates; and
· policies of the Federal Reserve Board regarding interest rates.
These and other factors may have a negative impact on the payment of interest on the notes and on the value of
the notes in the secondary market.
· 3-MONTH USD LIBOR MAY BE VOLATILE --3-Month USD LIBOR is subject to volatility due to a variety of
factors affecting interest rates general y, including but not limited to:
· supply and demand among banks in London for U.S. dol ar-denominated deposits with approximately a three
month term;
· sentiment regarding underlying strength in the U.S. and global economies;
· expectations regarding the level of price inflation;
· sentiment regarding credit quality in the U.S. and global credit markets;
· central bank policy regarding interest rates;
· inflation and expectations concerning inflation; and
· performance of capital markets.
Increases or decreases in 3-Month USD LIBOR could result in the corresponding Interest Rate decreasing to the
Minimum Interest Rate and thus in the reduction of interest payable on the notes.
· CERTAIN BUILT-IN COSTS ARE LIKELY TO ADVERSELY AFFECT THE VALUE OF THE NOTES PRIOR TO
MATURITY -- While the payment at maturity described in this pricing supplement is based on the ful principal
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amount of your notes, the original issue price of the notes includes the agent's commission or reflects the deduction
of a discount allowed to each agent and includes the estimated cost of hedging our obligations under the notes. As
a result, and as a general matter, 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 ful principal amount and may be lower than the
price at which you initial y purchased the notes and any sale prior to the maturity date could result in a substantial
loss to you. This secondary market price wil also be affected by a number of factors aside from the agent's
commission or discount and hedging costs, including those set forth under "Many Economic and Market Factors Wil
Impact the Value of the Notes" below. 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 allow 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 -- In addition to
3-Month USD LIBOR on any day, the value of the notes wil be affected by a number of economic and market
factors that may either offset or magnify each other, including:
· the expected volatility of 3-Month USD LIBOR;
· the time to maturity of the notes;
· interest and yield rates in the market general y, as wel as the volatility of those rates;
· a variety of economic, financial, political, regulatory or judicial events; and
· our creditworthiness, including actual or anticipated downgrades in our credit ratings.
Fixed to Floating Rate Notes Linked to 3-Month USD LIBOR
PS-2

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Hypothetical Interest Rate for an Interest Period other than an Initial Interest Period
The fol owing table il ustrates the Interest Rate determination for an Interest Period (other than an Initial Interest Period)
for a hypothetical range of performance of 3-Month USD LIBOR and reflects the Minimum Interest Rate set forth on the
cover of this pricing supplement. The hypothetical 3-Month USD LIBOR and interest payments set forth in the fol owing
examples are for il ustrative purposes only and may not be the actual 3-Month USD LIBOR or interest payment
applicable to a purchaser of the notes.
Hypothetical Interest Rate
Hypothetical 3-Month USD LIBOR
Spread
(after the Initial Interest Periods)

7.00%
+
0.30%
=
7.30%
6.00%
+
0.30%
=
6.30%
5.00%
+
0.30%
=
5.30%
4.00%
+
0.30%
=
4.30%
3.00%
+
0.30%
=
3.30%
2.00%
+
0.30%
=
2.30%
1.00%
+
0.30%
=
1.30%
0.00%
+
0.30%
=
1.00%*
-1.00%
+
0.30%
=
1.00%*
-2.00%
+
0.30%
=
1.00%*
*The Interest Rate cannot be less than the Minimum Interest Rate of 1.00% per annum.
These returns 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 total returns shown above would be lower.
Hypothetical Examples of Interest Rate Calculation
The fol owing examples il ustrate how the hypothetical Interest Rates set forth in the table above are calculated for a
particular Interest Period occurring after the Initial Interest Periods and assume that the number of calendar days in the
applicable Interest Period is 90.
Example 1: After the Initial Interest Periods, 3-Month USD LIBOR is 2.00% on the applicable Interest Reset Date.
The Interest Rate applicable to such Interest Period is 2.30% per annum calculated as fol ows:
2.00% + 0.30%= 2.30%
The interest payment per $1,000 principal amount note is calculated as fol ows:
$1,000 × 2.30% × (90/360) = $5.75
Example 2: After the Initial Interest Periods, 3-Month USD LIBOR is 0.00% on the applicable Interest Reset Date.
Because 3-Month USD LIBOR of 0.00% plus 0.30% is less than the Minimum Interest Rate of 1.00% per annum, the
Interest Rate is the Minimum Interest Rate of 1.00% per annum and the interest payment per $1,000 principal amount
note is calculated as fol ows:
$1,000 × 1.00% × (90/360) = $2.50
Fixed to Floating Rate Notes Linked to 3-Month USD LIBOR
PS-3

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Historical Information
The fol owing graph sets forth the weekly historical performance of 3-Month USD LIBOR from January 4, 2008 through
December 6, 2013. We obtained the rates used to construct the graph below from Bloomberg Financial Markets. We
make no representation or warranty as to the accuracy or completeness of the information obtained from Bloomberg
Financial Markets.
3-Month USD LIBOR, as appeared on Reuters page "LIBOR01" at approximately 11:00 a.m., London time on December
6, 2013 was 0.24085%.
The historical rates should not be taken as an indication of future performance, and no assurance can be given as to
3-Month USD LIBOR on any Interest Reset Date. We cannot give you assurance that the performance of 3-Month USD
LIBOR wil result in an Interest Rate for any Interest Period that is greater than the Minimum Interest Rate.

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
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
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.
Fixed to Floating Rate Notes Linked to 3-Month USD LIBOR
PS-4
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