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JPMorgan to price capped knock-out buffered notes linked to S&P 500
By Marisa Wong
Madison, Wis., Nov. 13 - JPMorgan Chase & Co. plans to price 0% capped index knock-out buffered equity notes due Dec. 10, 2014 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event occurs if the index ever falls by more than the 25% knock-out buffer on any day during the life of the notes.
If the index finishes above its initial level, the payout at maturity will be par plus the gain up to a maximum return of at least 9%.
If the index falls but a knock-out event never occurs, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
The notes will price on Nov. 15 and settle on Nov. 20.
The Cusip number is 48126NE86.
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