Published on 9/3/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $9.66 million trigger PLUS linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., Sept. 3 – JPMorgan Chase & Co. priced $9.66 million of 0% trigger Performance Leveraged Upside Securities due March 3, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any index gain, subject to a maximum return of 24.65%.
Investors will receive par if the index falls by up to 10% and will be fully exposed to losses if the index drops to or below the 90% trigger level.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC as dealer.
Issuer: | JPMorgan Chase & Co.
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying index: | S&P 500
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Amount: | $9,661,080
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Maturity: | March 3, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, with maximum return of 24.65%; par if index falls by less than 10%; full exposure to losses if index drops to or below trigger level
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Initial level: | 2,003.37
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Trigger level: | 1,803.033, 90% of initial index level
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Pricing date: | Aug. 29
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Settlement date: | Sept. 4
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Agent: | J.P. Morgan Securities LLC with Morgan Stanley Smith Barney LLC as dealer
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Fees: | 2.25%
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Cusip: | 481246577
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