Published on 5/4/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $5.99 million capped gears due 2017 tied to Russell 2000
By Susanna Moon
Chicago, May 4 – JPMorgan Chase & Co. priced $5.99 million of 0% growth enhanced asset return securities, or gears, due June 30, 2017 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any index gain, up to a maximum gain of 16.75%.
Investors will be exposed to any losses.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Growth enhanced asset return securities
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Underlying index: | Russell 2000
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Amount: | $5,986,150
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Maturity: | June 30, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 300% of any index gain, up to a maximum gain of 16.75%; exposure to any losses
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Initial level: | 1,150.728
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Pricing date: | April 26
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Settlement date: | April 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 48128B770
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