By Marisa Wong
Madison, Wis., March 27 - JPMorgan Chase & Co. priced $24.45 million of 0% dual directional buffered equity notes due April 10, 2013 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than the initial price, the payout at maturity will be par plus the stock gain, up to a maximum return of 18.15%.
If the share price falls by up to 20%, the payout will be par plus the absolute value of the return.
If the share price falls by more than 20%, investors will be fully exposed to the decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Dual directional buffered equity notes
|
| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $24,445,000
|
| Maturity: | April 10, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final price is greater than initial price, par plus gain, capped at 18.15%; if share price falls by up to 20%, par plus absolute value of return; otherwise, full exposure to decline
|
| Initial price: | $595.81
|
| Pricing date: | March 23
|
| Settlement date: | March 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125VSK7
|
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