Published on 5/29/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.58 million trigger return notes on S&P MidCap 400
By Susanna Moon
Chicago, May 29 – JPMorgan Chase & Co. priced $3.58 million of 0% trigger return optimization securities due May 31, 2018 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 1.5 times any index gain, up to a maximum return of 31.5%.
If the index falls up to the 75% trigger level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Trigger return optimization securities
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| Underlying index: | S&P MidCap 400
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| Amount: | $3,578,000
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| Maturity: | May 31, 2018
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 1.5 times any index gain, capped at 31.5%; par if the index falls up to trigger level; otherwise, fully exposure to any losses
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| Initial level: | 1,524.70
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| Trigger level: | 1,219.76, 80% of initial level
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| Pricing date: | May 26
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| Settlement date: | May 29
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| Underwriters: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48127X203
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