By Jennifer Chiou
New York, June 28 - JPMorgan Chase & Co. priced $495,000 of annual income notes contingent on the performance of the JPMorgan ETF Efficiente 5 index, according to a 424B2 filing with the Securities and Exchange Commission.
The maturity date is June 29, 2018.
Interest is payable annually at a rate equal to the index return multiplied by the index factor, subject to a minimum rate of 0.5%.
The index factor is one divided by the number of interest determination dates that have occurred to date including the current interest determination date. The interest determination dates are June 25, 2013, June 25, 2014, June 25, 2015, June 27, 2016, June 27, 2017 and June 26, 2018.
The payout at maturity will be par plus the last coupon payment.
The index tracks the excess return of a portfolio of 12 exchange-traded funds, with dividends reinvested, and the JPMorgan Cash Index USD 3 Month above the return of the cash index less a fee of 0.5% per year that accrues daily.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Annual income notes
|
| Underlying index: | JPMorgan ETF Efficiente 5
|
| Amount: | $495,000
|
| Maturity: | June 29, 2018
|
| Coupon: | Rate equal to index return multiplied by index factor, subject to minimum rate of 0.5%; index factor equals one divided by number of interest determination dates that have occurred to date including current interest determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus last coupon payment
|
| Initial index level: | 111.93
|
| Pricing date: | June 26
|
| Settlement date: | June 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 6.87%, including 3.473% for selling concessions
|
| Cusip: | 48125VB74
|
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