New Issue: JPMorgan prices $7.25 million contingent buffered notes on iShares MSCI EAFE with 11x leverage

By Angela McDaniels

Tacoma, Wash., Jan. 19 – JPMorgan Chase & Co. priced $7.25 million of 0% capped contingent buffered return enhanced notes due Jan. 19, 2018 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the final share price is greater than the initial share price, the payout at maturity will be par plus 11 times the ETF return, subject to a maximum return of 20%. If the ETF falls by up to 30%, the payout will be par. If the ETF falls by more than 30%, investors will be fully exposed to the ETF’s decline.

Because of the 11 times leverage factor, investors will hit the cap if the ETF appreciates by more than 1.81818%.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Capped contingent buffered return enhanced notes
Underlying ETF:	iShares MSCI EAFE ETF
Amount:	$7,252,000
Maturity:	Jan. 19, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If final share price is greater than initial share price, par plus 11 times ETF return, subject to 20% maximum return; If ETF falls by up to 30%, par; If ETF falls by more than 30%, full exposure to ETF’s decline
Initial share price:	$55.26
Pricing date:	Jan. 14
Settlement date:	Jan. 20
Agent:	J.P. Morgan Securities LLC
Fees:	0.5%
Cusip:	48128GHZ6

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