By Angela McDaniels
Tacoma, Wash., Nov. 17 - JPMorgan Chase & Co. priced $2 million of 0% buffered notes due May 17, 2013 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.
If the gold price on May 14, 2013 is greater than the strike value, the payout at maturity will be par plus the percentage increase in the gold price from the strike value, subject to a maximum return of 22%. Investors will receive par if the gold price declines from the strike value by up to 15% and will lose 1.1765% for every 1% that it declines beyond 15%.
The strike value set for the notes, $1,783.20, is slightly lower than the price of gold on the pricing date, $1,785.00.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Buffered notes
|
| Underlying commodity: | Gold
|
| Amount: | $2 million
|
| Maturity: | May 17, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any increase in price of gold from strike value, up to maximum return of 22%; par if gold price falls by 15% or less; 1.1765% loss for every 1% that price declines beyond 15%
|
| Strike value: | $1,783.20
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 18
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 48125VBP4
|
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