By Toni Weeks
San Luis Obispo, Calif., May 29 - JPMorgan Chase & Co. priced $1.75 million of 0% capped single observation knock-out buffered equity notes due June 11, 2014 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index falls by more than 15% from the initial level on the June 6, 2014 observation date.
If a knock-out event does not occur and the index return is positive, the payout at maturity is par plus the index return, subject to a maximum return of 20%.
If a knock-out event does not occur but the index falls by up to 15%, the payout is par.
If a knock-out event occurs, investors will be fully exposed to losses from the initial index level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Capped single observation knock-out buffered equity notes
|
| Underlying index: | MSCI EAFE
|
| Amount: | $1,745,000
|
| Maturity: | June 11, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is positive on June 6, 2014, par plus index return, capped at 20%; if index falls by up to 15%, par; if index falls more than 15%, full exposure to losses from initial index level
|
| Initial level: | 1,733.46
|
| Knock-out buffer: | 15% of initial level
|
| Pricing date: | May 24
|
| Settlement date: | May 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48126NBG1
|
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