By Susanna Moon
Chicago, Nov. 22 - JPMorgan Chase & Co. priced $7.37 million of 0% capped single observation index knock-out notes due Dec. 5, 2012 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index finishes below 80% of the initial level.
If a knock-out event does not occur, the payout at maturity will be par plus any gain in the index, with a contingent minimum return of 7.5%.
If a knock-out event occurs, investors will be exposed to any losses.
In either case, the maximum return at maturity will be $1,200 for each $1,000 principal amount.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Capped single observation index knock-out notes
|
| Underlying index: | S&P MidCap 400
|
| Amount: | $7,372,000
|
| Maturity: | Dec. 5, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus at least 7.5% if index finishes at or above 80% of initial level; otherwise, exposure to any losses; any gains capped at 20%
|
| Pricing date: | Nov. 18
|
| Settlement date: | Nov. 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125VDA5
|
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