PRICING SUPPLEMENT NO. 1171 Filed Pursuant to Rule 424(b)(2) Registration Statement No. 333-199966 Dated August 26, 2015
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JPMorgan Chase & Co. Trigger Return Optimization Securities
$2,849,140 Linked to the S&P MidCap 400® Index due August 31, 2018
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Investment Description |
Trigger
Return Optimization Securities, which we refer to as the "Securities," are unsecured and unsubordinated
debt securities issued by JPMorgan Chase & Co. ("JPMorgan Chase"), with a return linked to the performance
of the S&P MidCap 400® Index (the "Index").
If the Index Return is positive, JPMorgan Chase will repay your principal amount at maturity and pay a
return equal to the Index Return times the Multiplier of 1.50, up to the Maximum Gain of 38.47%. If the
Index Return is zero or negative and the Final Index Level is greater than or equal to the Trigger Level,
JPMorgan Chase will repay your principal amount at maturity. However, if the Index Return is negative
and the Final Index Level is less than the Trigger Level, JPMorgan Chase will repay less than your principal
amount at maturity, if anything, resulting in a loss of principal that is proportionate to the negative
Index Return. Investing in the Securities involves significant risks. You may lose some or all of your
principal amount. You will not receive dividends or other distributions paid on any stocks included in
the Index, and the Securities will not pay interest. The contingent repayment of principal applies only
if you hold the Securities to maturity. Any payment on the Securities, including any repayment of principal,
is subject to the creditworthiness of JPMorgan Chase. If JPMorgan Chase were to default on its payment
obligations, you may not receive any amounts owed to you under the Securities and you could lose your
entire investment. |
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Features |
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Key Dates |
Enhanced
Growth Potential Subject to Maximum Gain At maturity, the Securities enhance any positive
Index Return, up to the Maximum Gain of 38.47%. If the Index Return is negative, investors may be
exposed to the negative Index Return at maturity.
Contingent
Repayment of Principal at Maturity If the Index Return is zero or negative and the Final
Index Level is greater than or equal to the Trigger Level, JPMorgan Chase will repay your principal
amount at maturity. However, if the Index Return is negative and the Final Index Level is less than
the Trigger Level, JPMorgan Chase will repay less than your principal amount at maturity, if anything,
resulting in a loss of principal that is proportionate to the negative Index Return. You may lose
some or all of your principal. The contingent repayment of principal applies only if you hold the
Securities to maturity. Any payment on the Securities, including any repayment of your principal
amount, is subject to the creditworthiness of JPMorgan Chase.
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Trade
Date |
August
26, 2015 |
Original
Issue Date (Settlement Date) |
August
31, 2015 |
Final
Valuation Date1 |
August
27, 2018 |
Maturity
Date1 |
August
31, 2018 |
1 |
Subject
to postponement in the event of a market disruption event and as described under "General Terms of Notes
Postponement of a Determination Date Notes Linked to a Single Underlying Notes Linked
to a Single Underlying (Other Than a Commodity Index)" and "General Terms of Notes Postponement
of a Payment Date" in the accompanying product supplement no. UBS-1a-I |
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THE
SECURITIES ARE SIGNIFICANTLY RISKIER THAN CONVENTIONAL DEBT INSTRUMENTS. JPMORGAN CHASE
IS NOT NECESSARILY OBLIGATED TO REPAY THE FULL PRINCIPAL AMOUNT OF THE SECURITIES AT
MATURITY, AND THE SECURITIES MAY HAVE DOWNSIDE MARKET RISK SIMILAR TO THE INDEX. THIS
MARKET RISK IS IN ADDITION TO THE CREDIT RISK INHERENT IN PURCHASING A DEBT OBLIGATION
OF JPMORGAN CHASE. YOU SHOULD NOT PURCHASE THE SECURITIES IF YOU DO NOT UNDERSTAND OR
ARE NOT COMFORTABLE WITH THE SIGNIFICANT RISKS INVOLVED IN INVESTING IN THE SECURITIES.
YOU
SHOULD CAREFULLY CONSIDER THE RISKS DESCRIBED UNDER "KEY RISKS" BEGINNING ON PAGE 5 AND UNDER "RISK
FACTORS" BEGINNING ON PAGE PS-9 OF THE ACCOMPANYING PRODUCT SUPPLEMENT NO. UBS-1A-I AND UNDER "RISK
FACTORS" BEGINNING ON PAGE US-2 OF THE ACCOMPANYING UNDERLYING SUPPLEMENT NO. 1A-I BEFORE PURCHASING
ANY SECURITIES. EVENTS RELATING TO ANY OF THOSE RISKS, OR OTHER RISKS AND UNCERTAINTIES, COULD ADVERSELY
AFFECT THE MARKET VALUE OF, AND THE RETURN ON, YOUR SECURITIES. YOU MAY LOSE SOME OR ALL OF YOUR INITIAL
INVESTMENT IN THE SECURITIES. THE SECURITIES WILL NOT BE LISTED ON ANY SECURITIES EXCHANGE.
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Security Offering |
We
are offering Trigger Return Optimization Securities linked to the S&P MidCap 400®
Index. The Securities are offered for a minimum investment of 100 Securities at the price
to public described below. The return on the Securities is subject to, and will not exceed, the Maximum
Gain. |
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Index |
Multiplier |
Maximum
Gain |
Initial
Index Level |
Trigger
Level |
CUSIP |
ISIN |
S&P
MidCap 400® Index (Bloomberg ticker: MID) |
1.50 |
38.47% |
1,386.46 |
1,109.17,
which is 80% of the Initial Index Level |
48127V645 |
US48127V6450 |
See
"Additional Information about JPMorgan Chase & Co. and the Securities" in this pricing supplement. The Securities
will have the terms specified in the prospectus and the prospectus supplement, each dated November 7, 2014, product
supplement no. UBS-1a-I dated November 7, 2014, underlying supplement no. 1a-I dated November 7, 2014 and this
pricing supplement. The terms of the Securities as set forth
in this pricing supplement, to the extent they differ or conflict with those set forth in product supplement no.
UBS-1a-I, will supersede the terms set forth in product supplement no. UBS-1a-I.
Neither
the Securities and Exchange Commission (the "SEC") nor any state securities commission has approved or disapproved
of the Securities or passed upon the accuracy or the adequacy of this pricing supplement or the accompanying prospectus,
prospectus supplement, product supplement no. UBS-1a-I and underlying supplement no. 1a-I. Any representation to
the contrary is a criminal offense.
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Price
to Public1 |
Fees
and Commissions2 |
Proceeds
to Issuer |
Offering
of Securities |
Total |
Per
Security |
Total |
Per
Security |
Total |
Per
Security |
Securities
Linked to the S&P MidCap 400® Index |
$2,849,140 |
$10.00 |
$71,228.50 |
$0.25 |
$2,777,911.50 |
$9.75 |
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1 |
See
"Supplemental Use of Proceeds" in this pricing supplement for information about the components of the
price to public of the Securities. |
2 |
UBS
Financial Services Inc., which we refer to as UBS, will receive selling commissions from us of $0.25 per
$10 principal amount Security. See "Plan of Distribution (Conflicts of Interest)" beginning on page PS-87
of the accompanying product supplement no. UBS-1a-I, as supplemented by "Supplemental Plan of Distribution"
in this pricing supplement. |
The
estimated value of the Securities as determined by J.P. Morgan Securities LLC, which we refer to as JPMS, when
the terms of the Securities were set, was $9.691 per $10 principal amount Security. See "JPMS's Estimated Value
of the Securities" in this pricing supplement for additional information.
The
Securities are not bank deposits, are not insured by the Federal Deposit Insurance Corporation or any other governmental
agency, and are not obligations of, or guaranteed by, a bank.