JPMorgan plans trigger digital optimization notes linked to currencies

By Marisa Wong

Madison, Wis., July 25 - JPMorgan Chase & Co. plans to price 0% trigger digital optimization securities due Aug. 13, 2015 linked to the performance of a basket of currencies relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.

The basket includes equal weights of the Brazilian real, the Russian ruble, the Indian rupee and the Chinese renminbi.

The payout at maturity will be par of $10 plus the digital return if the basket return is zero or positive, meaning the basket has remained flat or appreciated relative to the dollar. The digital return is expected to be 50% to 55% and will be set at pricing.

If the basket return is negative and the final basket level is greater than or equal to the trigger level, 85% of the initial level, the payout will be par.

If the final basket level is less than the trigger level, investors will be fully exposed to the basket's decline from the initial level.

The notes are expected to price Aug. 10 and settle Aug. 15.

UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.

The Cusip number is 48126E826.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.