By Marisa Wong
Morgantown, W.Va., April 19 – JPMorgan Chase &Co. priced $4.88 million of 0% dual directional trigger Performance Leveraged Upside Securities due May 3, 2018 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than the initial share price, the payout at maturity will be par of $10 plus 150% of stock return, subject to a maximum return of 28.5%.
If the final share price is less than or equal to the initial share price but greater than or equal to the trigger share price, the payout will be par plus the absolute value of the stock return. The trigger share price is 80% of the initial share price.
If the final share price is less than the trigger share price, investors will be fully exposed to the decline from the initial share price.
J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Smith Barney.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Dual directional trigger Performance Leveraged Upside Securities
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| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
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| Amount: | $4,883,460
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| Maturity: | May 3, 2018
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | If final share price is greater than initial share price, par plus 150% of stock return, subject to 28.5% cap; if final share price is less than or equal to initial share price but greater than or equal to trigger share price, par plus absolute value of stock return; if final share price is less than trigger share price, full exposure to decline from initial share price
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| Initial share price: | $109.85
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| Trigger level: | $87.88, 80% of initial share price
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| Pricing date: | April 15
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| Settlement date: | April 20
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| Agent: | J.P. Morgan Securities LLC
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| Distribution: | Morgan Stanley Smith Barney
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| Fees: | 2.5%
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| Cusip: | 48128B788
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