Published on 6/17/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $6.98 million one-year digital notes linked to S&P 500
By Susanna Moon
Chicago, June 17 – JPMorgan Chase & Co. priced $6.98 million of 0% digital equity notes due July 19, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange.
If the index finishes at or above the 90% threshold level, the payout at maturity will the threshold settlement amount of $1,070.50 for each $1,000 principal amount.
Otherwise, investors will lose 1.1111% for each 1% decline beyond 10%.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Digital equity notes
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Underlying index: | S&P 500
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Amount: | $6,975,000
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Maturity: | July 19, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above the 90% threshold level, par plus 7.05%; otherwise, 1.1111% loss per 1% drop beyond 10%
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Initial level: | 2,075.32
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Threshold level: | 90% of initial level
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Pricing date: | June 14
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Settlement date: | June 21
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.08%
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Cusip: | 48128GYL8
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