Published on 1/28/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.33 million uncapped dual directional notes on S&P 500
By Marisa Wong
Morgantown, W.Va., Jan. 28 – JPMorgan Chase & Co. priced $3.33 million of 0% uncapped dual directional notes due Jan. 29, 2021 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus the index return, subject to a minimum return of 27.5%.
If the index falls by up to 30%, the payout will be par plus the absolute value of the return.
Otherwise, the payout will be par plus the return, with full exposure to any losses.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Uncapped dual directional notes
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Underlying index: | S&P 500
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Amount: | $3,325,000
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Maturity: | Jan. 29, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains or finishes flat, par plus greater of index return and 27.5%; if index falls by up to 30%, par plus absolute value of return; otherwise, par plus the return, with full exposure to any losses
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Initial level: | 1,903.63
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Contingent buffer: | 30%
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Pricing date: | Jan. 26
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Settlement date: | Jan. 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.53609%
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Cusip: | 48128GHQ6
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