By Angela McDaniels
Tacoma, Wash., May 27 - JPMorgan Chase & Co. priced $31,000 of 0% knock-out buffered return enhanced notes due May 31, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if the index closes below 75% of its initial level on any day during the life of the notes.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 1.5 times the index return, subject to a maximum return of 18.75%.
If the final index level is less than the initial index level and a knock-out event has not occurred, the payout will be par.
If the final index level is less than the initial index level and a knock-out event has occurred, the payout will be par plus the index return.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Knock-out buffered return enhanced notes
|
| Underlying index: | S&P 500
|
| Amount: | $31,000
|
| Maturity: | May 31, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any index gain, up to maximum return of 18.75%; par plus index return if index return is negative and index falls below 75% of initial level on any day during life of notes; otherwise par
|
| Initial index level: | 1,320.47
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 5.27%, including 2% for selling concessions
|
| Cusip: | 48125XPH3
|
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