Published on 8/21/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.18 million buffered return notes linked to S&P 500
By Susanna Moon
Chicago, Aug. 21 – JPMorgan Chase & Co. priced $4.18 million of 0% buffered return enhanced notes due Aug. 23, 2018 to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any index gain, up to a maximum return of 31%.
Investors will receive par if the index falls by up to 15% and will lose 1.1765% for each 1% decline beyond the 15%.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Buffered return enhanced notes
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Underlying index: | S&P 500
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Amount: | $4,178,000
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Maturity: | Aug. 23, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 2 times any index gain, capped at 31%; par if index falls by up to 15%; 1.1765% loss per 1% drop beyond the 15%
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Initial level: | 2,079.61
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Barrier level: | 85% of initial level
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Pricing date: | Aug. 19
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Settlement date: | Aug. 24
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.57%
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Cusip: | 48125UN65
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