By Marisa Wong
Madison, Wis., Jan. 13 – JPMorgan Chase & Co. priced $11.8 million of 0% trigger jump securities due July 14, 2015 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If the fund finishes at or above the initial share price, the payout at maturity will be par plus the upside payment of $1.95 per $10 security.
Investors will receive par if the share price falls by up to 10% and will be fully exposed to losses from the initial price if the fund finishes below the 90% downside threshold level.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
Issuer: | JPMorgan Chase & Co.
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Issue: | Trigger jump securities
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Underlying fund: | SPDR S&P Oil & Gas Exploration & Production ETF
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Amount: | $11,801,100
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Maturity: | July 14, 2015
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 19.5% if fund finishes at or above the initial share price; par for losses up to 10%; full exposure to any losses if fund finishes below 90% downside threshold level
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Initial share price: | $45.26
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Downside threshold level: $40.734, 90% of initial level
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Pricing date: | Jan. 9
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Settlement date: | Jan. 14
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Agent: | J.P. Morgan Securities LLC with Morgan Stanley Wealth Management handling distribution
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Fees: | 1.75%
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Cusip: | 48127R305
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