New Issue: JPMorgan prices $1 million digital notes linked to J.C. Penney

By Marisa Wong

Madison, Wis., Aug. 12 – JPMorgan Chase & Co. priced $1 million of 0% digital notes due Oct. 13, 2015 linked to the common stock of J.C. Penney Co., according to a 424B2 filing with the Securities and Exchange Commission.

If the final share price is greater than or equal to the initial share price or is less than the initial share price by up to 28.25%, the payout at maturity will be par plus 18%. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Digital notes
Underlying stock:	J.C. Penney Co., Inc. (Symbol: JCP)
Amount:	$1 million
Maturity:	Oct. 13, 2015
Coupon:	0%
Price:	Par
Payout at maturity:	If final share price is at least 71.75% of initial share price, par plus 18%; otherwise, 1% loss for every 1% that final share price is less than initial share price
Initial share price:	$9.37
Pricing date:	Aug. 8
Settlement date:	Aug. 13
Agent:	J.P. Morgan Securities LLC
Fees:	1.1%
Cusip:	48127DWR5

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