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JPMorgan plans capped knock-out notes with 75% trigger on Starbucks
By Susanna Moon
Chicago, June 27 - JPMorgan Chase & Co. plans to price 0% capped single observation knock-out notes due July 17, 2013 linked to Starbucks Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event occurs if Starbucks shares finish below the 75% trigger level.
If a knock-out event does not occur, the payout will be par plus the stock gain, with contingent minimum return of at least 5.55% and up to a maximum return of at least 20%. The exact floor and cap will be set at pricing.
Otherwise, the payout at maturity will be par the stock return, with exposure to any losses.
J.P. Morgan Securities LLC is the agent.
The notes are expected to price on June 29 and settle on July 5.
The Cusip number is 48125VM80.
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