Published on 11/11/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.37 million review notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Nov. 11 – JPMorgan Chase & Co. priced $2.37 million of 0% review notes due Nov. 9, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 9.85% if the index closes at or above its initial level on Nov. 18, 2016 or at par plus 19.7% if the average of its closing levels on the five trading days ending Nov. 6, 2017 is greater than or equal to the initial level.
The payout at maturity will be par unless the index falls by more than 10%, in which case investors will be fully exposed to the index’s decline from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Review notes
|
| Underlying index: | S&P 500
|
| Amount: | $2,365,000
|
| Maturity: | Nov. 9, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless index falls by more than 10%, in which case full exposure to index’s losses
|
| Call: | Automatically at par plus 9.85% if index closes at or above initial level on Nov. 18, 2016 or at par plus 19.7% if average of index’s closing levels on five trading days ending Nov. 6, 2017 is greater than or equal to initial level
|
| Initial level: | 2,099.20
|
| Final index level: | Average of index’s closing levels on five trading days ending Nov. 6, 2017
|
| Pricing date: | Nov. 6
|
| Settlement date: | Nov. 12
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48128GCJ7
|
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