Published on 1/28/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.01 million buffered PLUS linked to indexes, ETF
By Angela McDaniels
Tacoma, Wash., Jan. 28 - JPMorgan Chase & Co. priced $3.01 million of 0% buffered Performance Leveraged Upside Securities due July 28, 2016 linked to a basket of three indexes and one exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 50% weight, the FTSE 100 index with a 25% weight, the iShares MSCI Emerging Markets ETF with a 15% weight and the Topix index with a 10% weight.
If the basket return is positive, the payout at maturity will be par of $10 plus 150% of the basket return, subject to a maximum return of 22%. Investors will receive par if the basket falls by up to 10% and will lose 1% for every 1% that it declines beyond 10%.
J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Smith Barney LLC.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Buffered Performance Leveraged Upside Securities
|
| Underlying basket: | Euro Stoxx 50 index (50% weight), FTSE 100 index (25% weight), iShares MSCI Emerging Markets ETF (15% weight) and Topix index (10% weight)
|
| Amount: | $3,006,000
|
| Maturity: | July 28, 2016
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket return is positive, par plus 150% of basket return, subject to 22% maximum return; par if basket falls by up to 10%; 1% loss for every 1% that basket declines beyond 10%
|
| Initial levels: | 3,028.20 for Euro Stoxx 50; 6,663.74 for FTSE 100; $38.24 for ETF; 1,264.60 for Topix
|
| Pricing date: | Jan. 24
|
| Settlement date: | Jan. 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Distribution: | Morgan Stanley Smith Barney LLC
|
| Fees: | 2.25%
|
| Cusip: | 48127A211
|
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