Published on 1/22/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $820,000 capped return enhanced notes tied to offshore renminbi
By Marisa Wong
Madison, Wis., Jan. 22 - JPMorgan Chase & Co. priced $820,000 of 0% capped return enhanced notes due Jan. 23, 2015 linked to the offshore Chinese renminbi relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.6 times any gain in the currency, subject to a maximum return of 160%.
Investors will be exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Capped return enhanced notes
|
| Underlying currency: | Offshore Chinese renminbi
|
| Amount: | $820,000
|
| Maturity: | Jan. 23, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.6 times any currency gain, return capped at 160%; full exposure to losses
|
| Initial spot rate: | 6.0227
|
| Pricing date: | Jan. 17
|
| Settlement date: | Jan. 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.85%
|
| Cusip: | 48126NTU1
|
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