By Angela McDaniels
Tacoma, Wash., May 3 - JPMorgan Chase & Co. priced $6.71 million of 0% capped daily observation knock-out notes due May 16, 2012 linked to the common stock of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
If the price of Ford stock falls by more than 36.1% 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 8%.
In each case, the return will be capped at 12%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Capped daily observation knock-out notes
|
| Underlying stock: | Ford Motor Co. (NYSE: F)
|
| Amount: | $6.71 million
|
| Maturity: | May 16, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If stock falls by more than 36.1% during life of notes, par plus stock return; otherwise, par plus greater of stock return and 8%; in either case, return capped at 12%
|
| Initial price: | $15.47
|
| Pricing date: | April 29
|
| Settlement date: | May 4
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125XNV4
|
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