By Angela McDaniels
Tacoma, Wash., Sept. 25 - JPMorgan Chase & Co. priced $1.5 million of 0% knock-out buffered equity notes due March 26, 2014 linked to the iShares MSCI Brazil index fund, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the closing share price is less than the initial share price by more than 28.05% on any day during the life of the notes.
If the final share price is greater than the initial share price, the payout at maturity will be par plus the ETF return.
If the final share price is less than or equal to the initial share price and a knock-out event has not occurred, the payout will be par.
If the final share price is less than the initial share price and a knock-out event has occurred, investors will be fully exposed to the share price decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Knock-out buffered equity notes
|
| Underlying ETF: | iShares MSCI Brazil index fund
|
| Amount: | $1.5 million
|
| Maturity: | March 26, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any increase in ETF; par if ETF return is negative and knock-out event has not occurred; full exposure to ETF's decline if ETF return is negative and knock-out event has occurred
|
| Knock-out event: | If ETF's closing share price is less than initial share price by more than 28.05% on any day during life of notes
|
| Initial share price: | $55.85
|
| Pricing date: | Sept. 21
|
| Settlement date: | Sept. 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 48126DAE9
|
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