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JPMorgan plans contingent buffered digital notes on S&P GSCI Crude
By Marisa Wong
Madison, Wis., Dec. 23 – JPMorgan Chase & Co. plans to price 0% contingent buffered digital notes due Jan. 13, 2016 linked to the S&P GSCI Crude Oil Index Excess Return, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par plus the digital return of at least 13.25%. The exact digital return will be set at pricing.
If the index falls by up to 30%, the payout will be par.
Otherwise, investors will share fully in losses.
The final index level will be the average of the index closing levels on the five trading days ending Jan. 8, 2016.
J.P. Morgan Securities LLC is the agent.
The notes will price on Dec. 24 and settle on Dec. 30.
The Cusip number is 48127DPQ5.
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