By Susanna Moon
Chicago, Aug. 18 - JPMorgan Chase & Co. changed the issue amount to $2.91 million on its 0% capped daily observation knock-out notes due Aug. 29, 2012 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The issuer priced $3.3 million of the notes on Aug. 12.
If the price of Apple 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 the stock return and a contingent minimum return of 15%.
The maximum payment at maturity in either case will be $1,200 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: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $2,905,000
|
| Maturity: | Aug. 29, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If closing share price never falls below 75% of initial price, par plus stock return, with minimum return of 15%; if price falls by more than 25% during life of notes, par plus stock return with exposure to losses; maximum return of 20% in either case
|
| Initial price: | $376.91
|
| Knock-out buffer: | 25% of initial level
|
| Pricing date: | Aug. 12
|
| Settlement date: | Aug. 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125XH90
|
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