Published on 4/17/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1 million digital notes due 2016 linked to Valeant
By Susanna Moon
Chicago, April 17 – JPMorgan Chase & Co. priced $1 million of 0% digital notes due May 4, 2016 linked to Valeant Pharmaceuticals International, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock finishes at or above the 60% barrier level, the payout at maturity will be par plus the digital return of 9%.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Digital notes
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| Underlying stock: | Valeant Pharmaceuticals International, Inc. (Symbol: VRX)
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| Amount: | $1 million
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| Maturity: | May 4, 2016
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above 60% barrier level, par plus 9%; otherwise, full exposure to any losses
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| Initial level: | $206.16
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| Barrier level: | 60% of initial level
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| Pricing date: | April 15
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| Settlement date: | April 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48125UNU2
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