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JPMorgan updates fees for $3 million knock-out buffered notes on Euro Stoxx 50
By Jennifer Chiou
New York, Oct. 17 - JPMorgan Chase & Co. changed the fees on its recent issue of $3 million of 0% knock-out buffered notes due April 17, 2014 linked to the Euro Stoxx 50 index to 1.25% from 1%, according to a 424B8 filing with the Securities and Exchange Commission.
As stated when issue details were released, 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.
The initial index level for the notes (Cusip: 48126DDV8) was 2,487.08, measured on Oct. 11.
J.P. Morgan Securities LLC is the agent.
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