By Marisa Wong
Morgantown, W.Va., Jan. 7 – JPMorgan Chase & Co. priced $1.54 million of 0% dual directional trigger jump securities due Jan. 3, 2019 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund finishes above its initial level, the payout at maturity will be par plus the greater of the fund return and the upside payment of 10%.
If the fund finishes below its initial level but at or above the 79.6% downside threshold, the payout will be par plus the absolute value of the fund return.
Investors will be fully exposed to any losses if the fund finishes below the downside threshold.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Wealth Management will handle distribution.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Dual directional trigger jump securities
|
| Underlying fund: | Energy Select Sector SPDR fund
|
| Amount: | $1.54 million
|
| Maturity: | Jan. 3, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If fund gains, par plus greater of gain and 10%; par plus absolute value of fund return if fund falls by 20.4% or less; full exposure to any losses if fund finishes below downside threshold
|
| Initial price: | $60.45
|
| Downside threshold: | $48.1182, 79.6% of initial price
|
| Pricing date: | Dec. 28
|
| Settlement date: | Dec. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 48128A673
|
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