By Angela McDaniels
Tacoma, Wash., April 9 - JPMorgan Chase & Co. priced $3.61 million of 0% capped daily observation knock-out notes due April 23, 2014 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the exchange-traded fund's share price declines by more than 20% during the life of the notes.
If a knock-out event occurs, the payout at maturity will be par plus the ETF return, which may be positive or negative. If a knock-out event does not occur, the payout will be par plus the greater of the ETF return and 3%. In each case, the return will be subject to a 12.8% cap.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Capped daily observation knock-out notes
|
| Underlying ETF: | iShares MSCI Emerging Markets index fund
|
| Amount: | $3.61 million
|
| Maturity: | April 23, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF's share price declines by more than 20% during life of notes, par plus ETF return, which may be positive or negative; otherwise, par plus greater of ETF return and 3%; return subject to 12.8% cap in each case
|
| Initial share price: | $41.61
|
| Pricing date: | April 5
|
| Settlement date: | April 10
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48126DM30
|
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