New Issue: JPMorgan prices $3.77 million dual directional knock-out notes linked to S&P 500

By Susanna Moon

Chicago, Jan. 28 - JPMorgan Chase & Co. priced $3.77 million of zero-coupon principal-protected dual directional knock-out notes due March 3, 2009 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 15% unless the index ever closes more than 14% above or below its initial level, in which case the payout will be par.

J.P. Morgan Securities Inc. is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Principal-protected dual directional knock-out notes
Underlying index:	S&P 500
Amount:	$3,767,000
Maturity:	March 3, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	If index ever closes above the upper knock-out level or below the lower knock-out level, par; otherwise, par plus 15%
Initial index level:	1,330.61
Upper knock-out level:	1,516.8954, or 114% of initial level
Lower knock-out level:	1,144.3246, or 86% of initial level
Pricing date:	Jan. 25
Settlement date:	Jan. 31
Agent:	J.P. Morgan Securities Inc.
Fees:	2.17%, including 1.5% for selling concessions

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.