Published on 8/5/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $9.07 million trigger PLUS linked to three indexes
By Angela McDaniels
Tacoma, Wash., Aug. 5 – JPMorgan Chase & Co. priced $9.07 million of 0% trigger Performance Leveraged Upside Securities due Aug. 3, 2018 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the S&P 500 index, the Euro Stoxx 50 index and the Topix index.
If the basket return is positive, the payout at maturity will be par of $10 plus 200% of the basket return, subject to a 36.5% maximum return. Investors will receive par if the basket declines by 15% or less and will be fully exposed to the basket’s decline from its initial level if it falls by more than 15%.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying basket: | S&P 500 index, Euro Stoxx 50 index and Topix index, equally weighted
|
| Amount: | $9,072,900
|
| Maturity: | Aug. 3, 2018
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket return is positive, par plus two times basket return, subject to 36.5% maximum return; par if final basket level is less than or equal to initial level but greater than trigger level; full exposure to basket’s decline from initial level if final level is less than trigger level
|
| Initial index levels: | 2,103.84 for S&P 500, 3,600.69 for Euro Stoxx 50 and 1,659.52 for Topix
|
| Trigger level: | 85% of initial level
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Distribution: | Morgan Stanley Smith Barney LLC
|
| Fees: | 3%
|
| Cusip: | 48127X211
|
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