By Marisa Wong
Madison, Wis., Dec. 24 - JPMorgan Chase & Co. priced an additional $1.26 million of 0% return notes due Nov. 27, 2018 linked to the J.P. Morgan Enhanced Beta Select Backwardation Alternative Benchmark Total Return index, according to a 424B2 filing with the Securities and Exchange Commission.
The $1.24 million principal amount of additional notes priced at 101.9176 for $1.26 million of proceeds.
The issuer previously priced $234.65 million principal amount of the notes at par on Nov. 22, $3.36 million principal amount at 100.1241 on Nov. 27, $2.77 million principal amount at 101.0605 on Dec. 6 and $1.66 million principal amount at 100.7217 on Dec. 13. The total issue size is now $243.68 million.
The index is a notional dynamic index that tracks the return of seven weighted synthetic excess return subindexes that reference futures contracts on 22 specified commodities plus the return on three-month Treasury bills.
The payout at maturity will be a cash payment equal to the indicative note price on Nov. 21, 2018.
On the pricing date, the indicative note price was $1,000. On each subsequent business day, it equals the indicative note price as of the immediately preceding business day multiplied by the index factor as of that business day minus the investor fee as of that day.
On any business day, the index factor is the index's closing level on that day divided by its closing level on the immediately preceding business day.
On any business day, the investor fee is the indicative note price as of the immediately preceding business day multiplied by an annualized rate of 0.85%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Return notes
|
| Underlying index: | J.P. Morgan Enhanced Beta Select Backwardation Alternative Benchmark Total Return index
|
| Amount: | $243,675,000, increased from initial $234,651,000
|
| Maturity: | Nov. 27, 2018
|
| Coupon: | 0%
|
| Price: | Par for original $234,651,000; 100.1241 for $3,364,000 add-on; 101.0605 for $2,765,000 add-on; 100.7217 for $1,655,000 add-on; 101.9176 for $1.24 million add-on
|
| Payout at maturity: | Cash payment equal to indicative note price on Nov. 21, 2018
|
| Initial index level: | 100.8236
|
| Pricing dates: | Nov. 22 for initial issue; Nov. 27 for first add-on; Dec. 6 for second add-on; Dec. 13 for third add-on; Dec. 20 for fourth add-on
|
| Settlement dates: | Nov. 27 for initial issue; Dec. 3 for first add-on; Dec. 11 for second add-on; Dec. 18 for third add-on; Dec. 26 for fourth add-on
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48126NTE7
|
© 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.
