By Angela McDaniels
Tacoma, Wash., Feb. 16 - JPMorgan Chase & Co. priced $8.44 million of 0% dual directional knock-out buffered equity notes due March 1, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index closes below 80% of the initial index 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 the lesser of 14.25% and the index return.
If the final index level is equal to the initial index level, the payout will be par.
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 plus the absolute value of the index return.
If the final index level is less than the initial index level and a knock-out event has occurred, investors will be fully exposed to the index's decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Dual directional knock-out buffered equity notes
|
| Underlying index: | S&P 500
|
| Amount: | $8.44 million
|
| Maturity: | March 1, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than initial index level, par plus lesser of 14.25% and index return; if final level is less than initial level and knock-out event has not occurred, par plus absolute value of index return; if final level is less than initial level and knock-out event has occurred, full exposure to index decline
|
| Knock-out event: | Index closes below 80% of initial level on any day during life of notes
|
| Initial index level: | 1,350.5
|
| Pricing date: | Feb. 14
|
| Settlement date: | Feb. 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125VNE6
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
