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JPMorgan plans to price capped knock-out notes linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., June 25 - JPMorgan Chase & Co. plans to price 0% capped index knock-out notes due July 16, 2014 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event occurs if the index falls by more than 20% from the initial level on any day during the life of the notes.
If a knock-out event does not occur, the payout at maturity will be par plus a digital return of at least 8.7%.
If a knock-out event occurs, the payout at maturity will be par plus the index return, subject to a maximum return of 8.7%.
The exact terms will be set at pricing.
The notes (Cusip: 48126NGB7) will price June 28 and settle July 3.
J.P. Morgan Securities LLC will act as agent.
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