New Issue: JPMorgan prices $1.38 million capped buffered equity notes tied to S&P 500, Russell 2000

By Toni Weeks

San Luis Obispo, Calif., April 22 – JPMorgan Chase & Co. priced $1.38 million of 0% capped buffered equity notes due April 25, 2018 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout at maturity will be par plus the return of the lesser-performing index, up to a maximum return of 60%.

If either index finishes below its initial level but the final level of each index is at least 80% of its initial level, the payout will be par.

If either index finishes below the 80% trigger level, investors will lose 1% for every 1% decline of the lesser-performing index beyond the 20% buffer.

J.P. Morgan Securities LLC is the underwriter.

Issuer:	JPMorgan Chase & Co.
Issue:	Capped buffered equity notes
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$1.38 million
Maturity:	April 25, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If return of each index is zero or positive, par plus return of lesser-performing index, capped at 60%; if either index finishes below initial level but each index finishes at or above 80% of initial level, par; if either index finishes below 80% trigger level, exposure to decline of lesser-performing index beyond buffer
Initial levels:	2,100.4 for S&P 500, 1,264.918 for Russell 2000
Buffer amount:	20%
Pricing date:	April 20
Settlement date:	April 23
Agent:	J.P. Morgan Securities LLC
Fees:	None
Cusip:	48125UKE1

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