By Toni Weeks
San Luis Obispo, Calif., March 19 - JPMorgan Chase & Co. priced $1 million of 0% capped knock-out notes due April 2, 2014 linked to Caterpillar Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the Caterpillar share price closes below the 70% trigger level during the life of the notes.
If a knock-out event does not occur, the payout at maturity will be par plus the 8.3% digital return.
If a knock-out event occurs, the payout will be par plus the stock return, which could be positive or negative, subject to a maximum return of 8.3%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Capped knock-out notes
|
| Underlying stock: | Caterpillar Inc. (Symbol: CAT)
|
| Amount: | $1 million
|
| Maturity: | April 2, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If share price falls below 70% trigger level during life of notes, par plus stock return, with full exposure to losses and maximum return of 8.3%; otherwise, par plus 8.3% digital return
|
| Initial price: | $88.83
|
| Knock-out buffer: | 30% of initial level
|
| Pricing date: | March 15
|
| Settlement date: | March 20
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48126DD89
|
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