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JPMorgan plans knock-out digital notes linked to Russell, S&P 500
By Angela McDaniels
Tacoma, Wash., April 2 - JPMorgan Chase & Co. plans to price 0% single observation knock-out digital notes due Oct. 25, 2013 linked to the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event occurs if the final level of either index is less than its initial level by more than 30%.
If a knock-out event does not occur, the payout at maturity will be par plus the digital return, which is expected to be 10.7% to 11.7% and will be set at pricing.
If a knock-out event occurs, investors will be fully exposed to the decline of the worst-performing index from its initial level.
The notes (Cusip: 48125VTM2) will price April 11 and settle April 18.
J.P. Morgan Securities LLC is the agent.
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