By Angela McDaniels
Tacoma, Wash., July 30 – JPMorgan Chase & Co. priced $1.43 million of 0% single observation knock-in digital notes due Jan. 29, 2016 linked to the lesser performing of the common stock of Wells Fargo & Co. and the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event occurs if the final share price of each stock is greater than or equal to its knock-in level, 107% of its stock strike price. The stock strike price is the closing share price on July 23.
If a knock-in event has occurred, the payout at maturity will be par plus 59%.
If a knock-in event has not occurred, the payout will be par plus the return of the lesser performing stock. That return may be positive or negative.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Single observation knock-in digital notes
|
| Underlying stocks: | Wells Fargo & Co. (Symbol: WFC) and Apple Inc. (Symbol: AAPL)
|
| Amount: | $1,428,000
|
| Maturity: | Jan. 29, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final share price of each stock is greater than or equal to knock-in level, par plus 59%; otherwise, par plus return of lesser performing stock, which may be positive or negative
|
| Stock strike prices: | $51.33 for Wells Fargo and $97.19 for Apple; equal to closing share prices on July 23
|
| Knock-in levels: | $54.9231 for Wells Fargo and $103.9933 for Apple; 107% of stock strike prices
|
| Pricing date: | July 28
|
| Settlement date: | July 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.25%
|
| Cusip: | 48127DUF3
|
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