By Jennifer Chiou
New York, Dec. 2 - JPMorgan Chase & Co. priced another $3,364,000 of 0% return notes due Nov. 27, 2018 linked to the J.P. Morgan Enhanced Beta Select Backwardation Alternative Benchmark Total Return index, adding to the original $234.65 million of notes, according to a 424B2 filing with the Securities and Exchange Commission.
The original notes priced at par, while the reopened notes priced at 100.1241.
The index is a notional dynamic index that tracks the return of seven weighted synthetic excess return subindexes that reference futures contracts on 22 specified commodities plus the return on three-month Treasury bills.
The payout at maturity will be a cash payment equal to the indicative note price on Nov. 21, 2018.
On the pricing date, the indicative note price was $1,000. On each subsequent business day, it equals the indicative note price as of the immediately preceding business day multiplied by the index factor as of that business day minus the investor fee as of that day.
On any business day, the index factor is the index's closing level on that day divided by its closing level on the immediately preceding business day.
On any business day, the investor fee is the indicative note price as of the immediately preceding business day multiplied by an annualized rate of 0.85%.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Return notes
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Underlying index: | J.P. Morgan Enhanced Beta Select Backwardation Alternative Benchmark Total Return index
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Amount: | $238,015,000 (up from initial $234,651,000)
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Maturity: | Nov. 27, 2018
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Coupon: | 0%
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Price: | Par for original $234,651,000; 100.1241 for reopened notes
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Payout at maturity: | Cash payment equal to indicative note price on Nov. 21, 2018
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Initial index level: | 100.8236
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Pricing date: | Nov. 22 for initial notes; Nov. 27 for reopened notes
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Settlement date: | Nov. 27 for initial notes; Dec. 3 for reopened notes
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Agent: | J.P. Morgan Securities LLC
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Fees: | None
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Cusip: | 48126NTE7
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