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JPMorgan plans knock-out buffered equity notes tied to Euro Stoxx 50
By Marisa Wong
Madison, Wis., Aug. 1 - JPMorgan Chase & Co. plans to price 0% knock-out buffered equity notes due Feb. 12, 2014 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event will occur if the index closes below its initial level by more than 40% 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 notes (Cusip: 48125V2E9) are expected to price on Aug. 3 and settle on Aug. 8.
J.P. Morgan Securities Inc. is the agent.
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