By Toni Weeks
San Diego, Feb. 22 - JPMorgan Chase & Co. priced $2 million of 0% capped single observation knock-out notes due March 6, 2013 linked to the common stock of General Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the share price falls by more than 20% from the initial price on the March 1, 2013 observation date.
If a knock-out event does not occur, the payout at maturity is par plus the greater of the stock return and the 5.25% contingent minimum return, subject to a maximum return of 20%.
If a knock-out event occurs, the payout at maturity is par plus the stock return. Investors will be fully exposed to losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Capped single observation knock-out notes
|
| Underlying stock: | General Electric Co. (Symbol: GE)
|
| Amount: | $2 million
|
| Maturity: | March 6, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If share price falls by more than 20% from initial level on March 1, 2013 observation date, par plus stock return, with full exposure to losses; if knock-out event does not occur, par plus greater of stock return and 5.25%, capped at 20%
|
| Initial price: | $19.28
|
| Knock-out buffer: | 20% of initial price
|
| Pricing date: | Feb. 17
|
| Settlement date: | Feb. 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125VNX4
|
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