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JPMorgan plans single observation knock-out notes on Gold Miners ETF
By Marisa Wong
Madison, Wis., Sept. 14 - JPMorgan Chase & Co. plans to price 0% capped single observation index fund knock-out notes due Oct. 3, 2012 linked to the Market Vectors Gold Miners exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event will occur if the final fund share price is less than the initial share price by more than 25%.
If a knock-out event occurs, the payout at maturity will be par plus the fund return, with exposure to any losses.
Otherwise, the payout will be par plus the greater of the fund return and a contingent minimum return of at least 6.2%.
In either case, the payout is subject to a maximum return of at least 25%.
The exact terms will be set at pricing.
The notes (Cusip: 48125X2D7) are expected to price on Sept. 16 and settle on Sept. 21.
J.P. Morgan Securities LLC is the agent.
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