Published on 8/11/2015 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.46 million return notes on basket of 10 financial stocks
By Marisa Wong
Morgantown, W.Va., Aug. 11 – JPMorgan Chase & Co. priced $1.46 million of 0% return notes due Aug. 24, 2016 linked to a basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the common stocks of Bank of America Corp., Citigroup Inc., Comerica Inc., First Republic Bank, KeyCorp, PNC Financial Services Group, Inc., Regions Financial Corp., SVB Financial Group, U.S. Bancorp and Wells Fargo & Co.
For each $1,000 principal amount of notes, the payout at maturity will be (a) $1,000 multiplied by (b) one plus the index return multiplied by (c) 100.3%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Return notes
|
| Underlying basket: | Bank of America Corp. (NYSE: BAC), Citigroup Inc. (NYSE: C), Comerica Inc. (NYSE: CMA), First Republic Bank (NYSE: FRC), KeyCorp (NYSE: KEY), PNC Financial Services Group, Inc. (NYSE: PNC), Regions Financial Corp. (NYSE: RF), SVB Financial Group (Nasdaq: SIVB), U.S. Bancorp (NYSE: USB) and Wells Fargo & Co. (NYSE: WFC)
|
| Amount: | $1,463,000
|
| Maturity: | Aug. 24, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus basket return times 100.3%
|
| Initial basket level: | 100
|
| Pricing date: | Aug. 7
|
| Settlement date: | Aug. 12
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.75%
|
| Cusip: | 48125UK27
|
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