Published on 7/30/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sell $7.66 million six-year review notes on S&P, Russell, Dow
By Marisa Wong
Morgantown, W.Va., July 30 – JPMorgan Chase Financial Co. LLC priced $7.66 million of 0% review notes due July 29, 2024 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus a call premium of 10.25% per year if each index closes at or above the applicable call level on any annual review date. The call level is equal to the initial level for the first five annual review dates and 70% of the initial level for the final date.
If the notes are not called, the payout at maturity will be par plus the return of the worst performing index with full exposure to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Review notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
|
| Amount: | $7,658,000
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| Maturity: | July 29, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus return of worst performing index with 1% loss for each 1% decline
|
| Call: | At par plus 10.25% per year if each index closes at or above initial level on first five annual review dates or at or above 70% trigger level on final review date
|
| Initial levels: | 2,820.40 for S&P, 1,680.195 for Russell and 25,241.94 for Dow
|
| Trigger levels: | 1,974.28 for S&P, 1,176.1365 for Russell and 17,669.358 for Dow; 70% of initial levels
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| Pricing date: | July 24
|
| Settlement date: | July 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48129MG75
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