By Jennifer Chiou
New York, July 20 - JPMorgan Chase & Co. priced $2 million of 0% capped daily observation knock-out notes due July 26, 2012 linked to Corning Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the price of Corning stock falls by more than 30% during the life of the notes, the payout at maturity will be par plus the stock return, with exposure to any losses.
Otherwise, the payout will be par plus 13.4%.
The maximum payment at maturity will be $1,134 per $1,000 principal amount.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Capped daily observation knock-out notes
|
| Underlying stock: | Corning Inc. (NYSE: GLW)
|
| Amount: | $2 million
|
| Maturity: | July 26, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If stock falls by more than 30% during life of notes, par plus stock return, with exposure to losses; otherwise, par plus 13.4%; return capped at 13.4% in either case
|
| Initial price: | $16.50
|
| Pricing date: | July 18
|
| Settlement date: | July 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125XZB5
|
© 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.
