By Jennifer Chiou
New York, Feb. 24 – JPMorgan Chase & Co. priced $3,223,000 of 0% capped contingent buffered return enhanced notes due Aug. 23, 2018 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.15 times any fund gain, up to a maximum return of 95%.
Investors will receive par if the shares fall by up to 35% and will share fully in losses if the fund finishes below the 65% buffer level.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Capped contingent buffered return enhanced notes
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Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production
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Amount: | $3,223,000
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Maturity: | Aug. 23, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | 115% of any fund gain, capped at 95%; par for losses up to 35%; full exposure to losses if shares fall by more than 35%
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Initial price: | $52.31
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Pricing date: | Feb. 20
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Settlement date: | Feb. 27
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Agent: | JPMorgan Securities LLC
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Fees: | 2.6%
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Cusip: | 48127D7M4
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