By Jennifer Chiou
New York, Nov. 23 - JPMorgan Chase & Co. priced $3.35 million of 0% capped daily observation knock-out notes due Dec. 7, 2011 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If Bank of America stock closes below 63.7% of its initial share price during the life of the notes, the payout at maturity will be par plus the stock return, which could be positive or negative. Otherwise, the payout will be par plus the greater of the stock return and 10%.
In each case, the payout will be subject to a maximum return of 25%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Capped daily observation knock-out notes
|
| Underlying stock: | Bank of America Corp. (Symbol: BAC)
|
| Amount: | $3.35 million
|
| Maturity: | Dec. 7, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If Bank of America stock closes below 63.7% of initial share price during life of notes, par plus stock return with exposure to losses; otherwise, par plus greater of stock return and 10%; return capped at 25% in each case
|
| Initial share price: | $11.66
|
| Pricing date: | Nov. 19
|
| Settlement date: | Nov. 24
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48124A2W6
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
