Published on 3/30/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.71 million uncapped contingent buffered notes tied to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, March 30 – JPMorgan Chase & Co. priced $1.71 million of 0% uncapped contingent buffered return enhanced notes due March 31, 2021 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus 1.65 times the gain of the worse-performing index.
If either index falls, but neither by more than the 50% contingent buffer, the payout will be par.
If either falls by more than 50%, investors will be fully exposed to any losses of the worse-performing index.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Uncapped contingent buffered return enhanced notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $1,705,000
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Maturity: | March 31, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus 1.65 times return of worse-performing index; par if index either index falls by up to 50%; full exposure to loss of worse-performing index if either index falls more than 50%
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Initial level: | 2,037.05 for S&P, 1,080.231 for Russell
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Pricing date: | March 28
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Settlement date: | March 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.8675%
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Cusip: | 48128GQT0
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