By Angela McDaniels
Tacoma, Wash., July 22 – JPMorgan Chase & Co. priced $8.51 million of 0% knock-out buffered return enhanced notes due July 21, 2017 linked to the lesser performing of the Euro Stoxx 50 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying component finishes at or above its initial level, the payout at maturity will be par plus 200% of the return of the lesser performing underlying component.
If either underlying component finishes below its initial level but neither underlying component has declined by more than 25%, the payout will be par.
If either underlying component declines by more than 25%, investors will be fully exposed to the decline of the lesser performing underlying component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Knock-out buffered return enhanced notes
|
| Underliers: | Euro Stoxx 50 index and iShares MSCI EAFE ETF
|
| Amount: | $8.51 million
|
| Maturity: | July 21, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each underlying component finishes at or above initial level, par plus 200% of return of lesser performing underlying component; if either underlying component finishes below initial level but neither has declined by more than 25%, par; if either underlying component declines by more than 25%, full exposure to decline of lesser performing underlying component
|
| Initial levels: | 3,164.21 for index and $67.88 for ETF
|
| Pricing date: | July 18
|
| Settlement date: | July 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%, all of which will be used for selling concessions
|
| Cusip: | 48127DRY6
|
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