By Jennifer Chiou
New York, Feb. 11 - JPMorgan Chase & Co. priced $975,000 of 0% knock-out buffered notes due Feb. 9, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index ever falls by more than the 40% knock-out buffer on any day during the life of the notes.
If the index finishes above its initial level, the payout at maturity will be par plus the gain.
If the index falls but a knock-out event never occurs, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Knock-out buffered notes
|
| Underlying index: | S&P 500
|
| Amount: | $975,000
|
| Maturity: | Feb. 9, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains, par plus the return; if index falls but never closes below knock-out level, par; otherwise, full exposure to any losses
|
| Initial index level: | 1,773.43
|
| Knock-out level: | 60% of initial level
|
| Pricing date: | Feb. 6
|
| Settlement date: | Feb. 11
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48126NZ83
|
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