By Susanna Moon
Chicago, Jan. 25 – JPMorgan Chase & Co. priced $6 million of airbag return optimization securities due Feb. 24, 2017 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 14.85%.
Investors will receive par if the index falls by up to 7.5% and will lose 1.0811% for every 1% decline beyond 7.5%.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Airbag return optimization securities
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| Underlying index: | S&P 500
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| Amount: | $6 million
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| Maturity: | Feb. 24, 2017
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 200% of any index gain, capped at 14.85%; par if index declines by 7.5% or less; 1.0811% loss for every 1% drop beyond 7.5%
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| Initial level: | 1,881.33
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| Barrier level: | 92.5% of initial level
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| Pricing date: | Jan. 20
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| Settlement date: | Jan. 25
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| Underwriters: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48128A319
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