By Toni Weeks
San Luis Obispo, Calif., Feb. 26 – JPMorgan Chase & Co. priced $675,000 0% dual directional knock-out buffered equity notes due March 1, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out even occurs if the index closes below the initial level by more than the knock-out buffer amount of 21.25% on any day during the life of the notes.
If the final index level is greater than or equal to the initial level, the payout at maturity will be par plus 100% of the index return.
If the final index level is less than the initial level and a knock-out event has not occurred, the payout will be par plus the absolute return of the index return.
If the final index level is less than the initial level and a knock-out event has occurred, investors will receive par plus the index return, with full exposure to the index decline from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Dual directional knock-out buffered equity notes
|
| Underlying index: | S&P 500
|
| Amount: | $675,000
|
| Maturity: | March 1, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than or equal to initial level, par plus 100% of the index return; if final index level is less than initial level and a knock-out event has not occurred, par plus absolute return of index return; if final level is less than initial level and a knock-out event has occurred, par plus the index return, with full exposure to the index decline from its initial level
|
| Knock-out event: | If index closing level is less than initial level by more than 21.25% on any day during life of notes
|
| Initial index level: | 2,115.48
|
| Pricing date: | Feb. 24
|
| Settlement date: | Feb. 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48125UEU2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
