By Angela McDaniels
Tacoma, Wash., Oct. 7 - JPMorgan Chase & Co. priced $4.2 million of 0% capped daily observation knock-out notes due Oct. 26, 2011 linked to the common stock of Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
If Wells Fargo stock closes below 75% of its initial share price during the life of the notes, the payout at maturity will be par plus the stock return, which could be positive or negative. Otherwise, the payout will be par plus the greater of the stock return and 7.75%.
In each case, the payout will be subject to a maximum return of 40%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Capped daily observation knock-out notes
|
| Underlying stock: | Wells Fargo & Co. (NYSE: WFC)
|
| Amount: | $4.2 million
|
| Maturity: | Oct. 26, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If Wells Fargo stock closes below 75% of initial share price during life of notes, par plus stock return with exposure to losses; otherwise, par plus greater of stock return and 7.75%; return capped at 40% in each case
|
| Initial share price: | $26.25
|
| Pricing date: | Oct. 5
|
| Settlement date: | Oct. 8
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48124AN86
|
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