New Issue: JPMorgan prices $2 million contingent buffered return enhanced notes linked to oil

By Angela McDaniels

Tacoma, Wash., Sept. 4 – JPMorgan Chase & Co. priced $2 million of 0% capped contingent buffered return enhanced notes due Jan. 4, 2016 linked to West Texas Intermediate crude oil future contracts, according to a 424B2 filing with the Securities and Exchange Commission.

If the final oil price is greater than the initial oil price, the payout at maturity will be par plus 3.3 times the gain, subject to a maximum return of 23.1%. If the price declines by up to 10%, the payout will be par. If the price declines by more than 10%, investors will be fully exposed to the decline.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Capped contingent buffered return enhanced notes
Underlying commodity:	West Texas Intermediate crude oil
Amount:	$2 million
Maturity:	Jan. 4, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	If final oil price is greater than initial oil price, par plus 3.3 times the gain, subject to maximum return of 23.1%; if price declines by up to 10%, par; if price declines by more than 10%, full exposure to decline
Initial oil price:	$95.96, which is the price on Aug. 29
Final oil price:	Average of oil’s prices on the five trading days ending Dec. 29, 2015
Pricing date:	Sept. 2
Settlement date:	Sept. 4
Agent:	J.P. Morgan Securities LLC
Fees:	1.2%
Cusip:	48127DNS3

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