By Susanna Moon
Chicago, April 2 - JPMorgan Chase & Co. priced $5.04 million of 0% capped index knock-out buffered equity notes due April 16, 2014 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 ever falls by more than the 20% knock-out percentage on any day during the life of the notes.
If the index finishes above its initial level, the payout at maturity will be par plus the gain up to a maximum return of 13.85%.
If the index falls but a knock-out event never occurs, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Capped index knock-out buffered equity notes
|
| Underlying index: | S&P 500
|
| Amount: | $5,043,000
|
| Maturity: | April 16, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains, par plus the return capped at 13.85%; if index falls but never closes below knock-out level, par; otherwise, full exposure to any losses
|
| Initial index level: | 1,569.19
|
| Knock-out level: | 80% of initial level
|
| Pricing date: | March 28
|
| Settlement date: | April 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48126DG29
|
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