New Issue: JPMorgan prices $656,000 digital notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., April 21 – JPMorgan Chase & Co. priced $656,000 of 0% digital notes due April 20, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus 14.25%. If the final index level is less than the initial index level by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Digital notes
Underlying index:	S&P 500
Amount:	$656,000
Maturity:	April 20, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is greater than or equal to initial index level, par plus 14.25%; if final index level is less than initial index level by up to 10%, par; otherwise, 1% loss for every 1% that index declines beyond 10%
Initial index level:	2,081.18
Pricing date:	April 17
Settlement date:	April 22
Agent:	J.P. Morgan Securities LLC
Fees:	0.15%
Cusip:	48125UMV1

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