By Susanna Moon
Chicago, Sept. 8 – JPMorgan Chase & Co. priced $6.25 million of 0% dual directional trigger Performance Leveraged Upside Securities due Oct. 5, 2016 linked to Apple Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
If the Apple shares finish at or above the initial level, the payout at maturity will be par of $10 plus double the stock return, up to a maximum return of 22.5%.
If the stock falls by up to the 90% trigger level, the payout will be par plus the absolute value of the stock return.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Dual directional Trigger Performance Leveraged Upside Securities
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| Underlying stock: | Apple Inc. (Symbol: AAPL)
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| Amount: | $6,253,630
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| Maturity: | Oct. 5, 2016
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If stock gains, par plus 200% of return, capped at 22.5%; if stock falls by up to trigger level, par plus absolute value of return; otherwise, full exposure to any losses
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| Initial level: | $112.76
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| Trigger level: | 90% of initial level
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 3
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| Agent: | J.P. Morgan Securities LLC
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| Distribution: | Morgan Stanley Smith Barney LLC
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| Fees: | 1.75%
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| Cusip: | 48127X112
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