New Issue: JPMorgan prices $301,000 single observation knock-out notes tied to Apple

By Angela McDaniels

Tacoma, Wash., Jan. 8 - JPMorgan Chase & Co. priced $301,000 of 0% capped single observation knock-out notes due Jan. 23, 2014 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If the final price of Apple stock is less than the initial share price by more than 20%, investors will be fully exposed to the decline. Otherwise, the payout at maturity will be par plus the greater of the 5% contingent minimum return and the stock return, subject to a maximum return of 30.1%.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Capped single observation knock-out notes
Underlying stock:	Apple Inc. (Nasdaq: AAPL)
Amount:	$301,000
Maturity:	Jan. 23, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	If final share price is less than initial share price by more than 20%, full exposure to decline; otherwise, par plus greater of 5% and stock return, subject to maximum return of 30.1%
Initial share price:	$527.02
Pricing date:	Jan. 4
Settlement date:	Jan. 9
Agent:	J.P. Morgan Securities LLC
Fees:	1%
Cusip:	48126DRY7

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