By Toni Weeks
San Luis Obispo, Calif., April 28 – JPMorgan Chase & Co. priced $1 million of 0% capped index knock-out notes due May 11, 2016 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index closes below the initial index level by more than 20% on any day during the life of the notes.
If a knock-out event does not occur, the payout at maturity will be par plus 8.85%. Otherwise, investors will receive par plus the index return, with any gains capped at 8.85% and with full exposure to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Capped index knock-out notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $1 million
|
| Maturity: | May 11, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If knock-out event does not occur, par plus 8.85%; otherwise, par plus index return, with any gains capped at 8.85% and with full exposure to any losses
|
| Knock-out event: | Index closes below initial index level by more than 20% on any day during life of notes
|
| Initial index level: | 3,713.96
|
| Pricing date: | April 24
|
| Settlement date: | April 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125UPB2
|
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