By Angela McDaniels
Tacoma, Wash., April 29 - JPMorgan Chase & Co. priced $3.76 million of 0% dual directional trigger Performance Leveraged Upside Securities due April 29, 2016 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.
If the final price of Apple shares is greater than the initial price, the payout at maturity will be par of $10 plus 125% of the stock return.
If the final share price is less than or equal to the initial share price but greater than or equal to the trigger level, 80% of the initial share price, the payout will be par plus the absolute value of the stock return.
Investors will be fully exposed to the decline in the share price from the initial share price if the final share price is less than the trigger level.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Dual directional Trigger Performance Leveraged Upside Securities
|
| Underlying stock: | Apple Inc. (Symbol: AAPL)
|
| Amount: | $3,757,200
|
| Maturity: | April 29, 2016
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If Apple shares finish above initial price, par plus 1.25 times stock return; if final share price is less than or equal to initial price but greater than or equal to trigger level, par plus absolute value of stock return; full exposure to decline if final share price is less than trigger level
|
| Initial share price: | $571.94
|
| Trigger price: | $457.552, 80% of initial level
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Distribution: | Morgan Stanley Smith Barney LLC
|
| Fees: | 2.25%
|
| Cusip: | 48127F749
|
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