By Angela McDaniels
Tacoma, Wash., Sept. 18 - JPMorgan Chase & Co. priced $1.3 million of 0% capped dual directional knock-out buffered equity notes due Oct. 2, 2013 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if Apple's closing share price is less than the initial share price by more than 23.15% on any day during the life of the notes.
If the final share price is greater than the initial share price, the payout at maturity will be par plus the lesser of 23.15% and the stock return.
If the final share price is equal to the initial share price, the payout will be par.
If the final share price is less than the initial share price and a knock-out event has not occurred, the payout will be par plus the absolute value of the stock return.
If the final share price is less than the initial share price and a knock-out event has occurred, investors will be fully exposed to the share price decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Capped dual directional knock-out buffered equity notes
|
| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $1.3 million
|
| Maturity: | Oct. 2, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than initial level, par plus lesser of 23.15% and stock return; if final level is less than initial level and knock-out event has not occurred, par plus absolute value of stock return; if final share price is less than initial share price and knock-out event has occurred, full exposure to share price decline
|
| Knock-out event: | Closing share price is less than initial share price by more than 23.15% on any day during life of notes
|
| Initial share price: | $691.28
|
| Pricing date: | Sept. 14
|
| Settlement date: | Sept. 19
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125V7H7
|
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