By Marisa Wong
Madison, Wis., Oct. 16 - JPMorgan Chase & Co. priced $3 million of 0% knock-out buffered notes due April 17, 2014 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if the index closes below its initial level by more than 36.6% on any day during the life of the notes.
If the final index level is greater than the initial level, the payout at maturity will be par plus the index gain.
If the final index level is less than or equal to the initial level and a knock-out event has not occurred, the payout will be par. Otherwise, investors will be fully exposed to losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Knock-out buffered notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $3 million
|
| Maturity: | April 17, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than initial level, par plus index return; if final level is less than initial level and knock-out event has not occurred, par; if final index level is less than initial index level and knock-out event has occurred, full exposure to index decline
|
| Knock-out event: | Index's closing level is less than initial index level by more than 36.6% on any day during life of notes
|
| Initial index level: | 2,487.08 (index closing level on Oct. 11)
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| Pricing date: | Oct. 12
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| Settlement date: | Oct. 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48126DDV8
|
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