By Susanna Moon
Chicago, Nov. 22 - JPMorgan Chase & Co. priced $7.37 million of 0% capped single observation index knock-out notes due Dec. 5, 2012 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index finishes below 80% of the initial level.
If a knock-out event does not occur, the payout at maturity will be par plus any gain in the index, with a contingent minimum return of 7.5%.
If a knock-out event occurs, investors will be exposed to any losses.
In either case, the maximum return at maturity will be $1,200 for each $1,000 principal amount.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Capped single observation index knock-out notes
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Underlying index: | S&P MidCap 400
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Amount: | $7,372,000
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Maturity: | Dec. 5, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus at least 7.5% if index finishes at or above 80% of initial level; otherwise, exposure to any losses; any gains capped at 20%
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Pricing date: | Nov. 18
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Settlement date: | Nov. 23
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48125VDA5
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