By Toni Weeks
San Luis Obispo, Calif., June 18 - JPMorgan Chase & Co. prices $2.67 million of capped contingent trigger equity notes with contingent interest due June 19, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the initial level on any annual review date, investors will receive a contingent interest payment of 2.5%.
If the final index level is greater than the initial level, the payout at maturity will be par plus the index gain, subject to a maximum return of 50%.
If the final level is at least 75% of the initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% decline below the initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Capped contingent trigger equity notes with contingent interest
|
| Underlying index: | S&P 500
|
| Amount: | $2,671,000
|
| Maturity: | June 19, 2018
|
| Coupon: | 2.5% per year if index closes at or above initial level on any annual review date; otherwise, no coupon for that period
|
| Price: | Par
|
| Payout at maturity: | If index return is positive, par plus index gain, capped at 50%; par if index closes at or above trigger level; full exposure to losses if index finishes below trigger level
|
| Initial index level: | 1,626.73
|
| Trigger level: | 75% of initial index level
|
| Pricing date: | June 14
|
| Settlement date: | June 19
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.813%
|
| Cusip: | 48126DR50
|
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