By Angela McDaniels
Tacoma, Wash., Aug. 27 – JPMorgan Chase & Co. priced $5 million of 0% buffered digital notes due Dec. 15, 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 strike value, the payout at maturity will be par plus 15.5%. The strike value, 1,893.21, is the index’s closing level on Aug. 24, one day prior to pricing.
If the index declines from the strike value by up to 20%, the payout will be par. Investors will lose 1.25% for every 1% that the index declines beyond 20%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Buffered digital notes
|
| Underlying index: | S&P 500
|
| Amount: | $5 million
|
| Maturity: | Dec. 15, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than or equal to strike value, par plus 15.5%; if index declines from strike value by up to 20%, par; 1.25% loss for every 1% that index declines beyond 20%
|
| Strike value: | 1,893.21, closing level on Aug. 24
|
| Pricing date: | Aug. 25
|
| Settlement date: | Aug. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125UQ39
|
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