Published on 3/26/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.28 million review notes linked to Russell, S&P, Dow
By Sarah Lizee
Olympia, Wash., March 26 – JPMorgan Chase Financial Co. LLC priced $3.28 million of 0% review notes due March 27, 2025 linked to the least performing of the Russell 2000 index, the S&P 500 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 an annual call premium of 10% if each index closes at or above the call level on any annual review date. The call level will be 100% of the initial level on the first review date, stepping down by 250 basis points each year to a final call level of 87.5% of the initial level on the final review date.
If the notes are not called, the payout at maturity will be par, unless any index falls below its trigger level, 75% of its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Review notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Dow Jones industrial average
|
| Amount: | $3,276,000
|
| Maturity: | March 27, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus 10% per year if each index closes at or above call level on any annual review date; call level is 100% of the initial level on the first review date, stepping down by 250 bps each year to a final call level of 87.5% of the initial level on the final review date
|
| Payout at maturity: | Par unless any index falls below its trigger level, 75% of its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level
|
| Initial levels: | 25,502.32 for Dow, 1,505.923 for Russell and 2,800.71 for S&P
|
| Trigger levels: | 19,126.74 for Dow, 1,129.44225 for Russell and 2,100.5325 for S&P; 75% of initial levels
|
| Pricing date: | March 22
|
| Settlement date: | March 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48130WD40
|
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