By Susanna Moon
Chicago, Aug. 9 - JPMorgan Chase & Co. priced $1.71 million of 0% capped daily observation knock-out notes due Aug. 22, 2012 linked to Oracle Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Oracle stock falls by more than 25% during the life of the notes, the payout at maturity will be par plus the stock return, with exposure to any losses.
Otherwise, the payout will be par plus the greater of any gain in the stock and a contingent minimum return of 10%.
The maximum payment at maturity in either case will be $1,250 per $1,000 principal amount.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Capped daily observation knock-out notes
|
| Underlying stock: | Oracle Corp. (Nasdaq: ORCL)
|
| Amount: | $1,707,000
|
| Maturity: | Aug. 22, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If Oracle stock never falls by more than 25%, par plus greater of stock return and 10%; otherwise, par plus Oracle return with exposure to losses; gains capped at 25% in either case
|
| Initial price: | $28.35
|
| Pricing date: | Aug. 5
|
| Settlement date: | Aug. 10
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125XE85
|
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