Published on 5/15/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.51 million buffered notes linked to three indexes
By Angela McDaniels
Tacoma, Wash., May 15 – JPMorgan Chase & Co. priced $1.51 million of 0% uncapped buffered equity notes due May 17, 2018 linked to the least performing of S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus the return of the least-performing index.
If the final level of any index is less than its initial level but the final level of each index is not less than its initial level by more than 32%, the payout will be par.
If the final level of any index is less than its initial level by more than 32%, investors will lose 1% for every 1% that the least-performing index declines beyond 32%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Uncapped buffered equity notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Dow Jones industrial average
|
| Amount: | $1,509,000
|
| Maturity: | May 17, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of each index is greater than or equal to its initial level, par plus return of least-performing index; if final level of any index is less than initial level but final level of each index is not less than initial level by more than 32%, par; if final level of any index is less than initial level by more than 32%, 1% loss for every 1% that least-performing index declines beyond 32%
|
| Initial index levels: | 2,098.48 for S&P 500, 1,232.275 for Russell 2000 and 18,060.49 for Dow
|
| Pricing date: | May 13
|
| Settlement date: | May 18
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.4%
|
| Cusip: | 48125URT1
|
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