By Marisa Wong
Madison, Wis., May 5 – JPMorgan Chase & Co. priced $4.41 million of 0% dual directional trigger Performance Leveraged Upside Securities due Sept. 10, 2018 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 the initial index level, the payout at maturity will be par of $10 plus 150% of the index return, subject to a maximum payment of $13.90 per note.
If the final index level is less than or equal to the initial index level but is greater than or equal to the trigger level, the payout will be par plus the absolute value of the index return. The trigger level is 85% of the initial index level.
If the final index level is less than the trigger level, investors will be fully exposed to the decline from the initial index level.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC handling distribution.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Dual directional trigger Performance Leveraged Upside Securities
|
| Underlying index: | S&P 500
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| Amount: | $4,409,300
|
| Maturity: | Sept. 10, 2018
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than initial index level, par plus 150% of index return, return capped at 39%; if final index level is less than or equal to initial index level but greater than or equal to trigger level, par plus absolute value of index return; if final index level is less than trigger level, full exposure to decline from initial index level
|
| Initial index level: | 2,085.51
|
| Trigger level: | 1,772.6835, 85% of initial level
|
| Pricing date: | April 30
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| Settlement date: | May 5
|
| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Smith Barney LLC handling distribution
|
| Fees: | 3%
|
| Cusip: | 48127T251
|
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