By Toni Weeks
San Luis Obispo, Calif., Feb. 13 – JPMorgan Chase & Co. priced $1 million of 0% digital notes due March 2, 2016 linked to the capital stock of International Business Machines Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock finishes at or above 80% of the initial price, the payout at maturity will be par plus the digital return of 6%. Investors will be fully exposed to losses from the initial share price if the stock price falls by more than 20%.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Digital notes
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Underlying stock: | International Business Machines Corp. (Symbol: IBM)
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Amount: | $1 million
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Maturity: | March 2, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If stock finishes at or above 80% of initial price, par plus 6%; full exposure to losses from initial stock price if stock falls by more than 20%
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Initial level: | $158.20
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Buffer level: | 80% of initial price
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Pricing date: | Feb. 11
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Settlement date: | Feb. 17
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48125UEV0
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