Published on 5/26/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $927,000 review notes on Euro Stoxx, iShares MSCI ETFs
By Devika Patel
Knoxville, Tenn., May 26 – JPMorgan Chase Financial Co. LLC priced $927,000 of 0% review notes due May 24, 2022 linked to the Euro Stoxx 50 index, the iShares MSCI EAFE exchange-traded fund and the iShares MSCI Emerging Markets exchange-traded fund, 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 annualized call premium of 13.75% per year if each underlying closes above its initial level on any annual call review date beginning May 21, 2018.
If the notes are not called, the payout at maturity will be par if each underlying finishes at or above 70% of its initial level. If either underlying finishes below the 70% trigger level, investors will lose 1% for each 1% decline of the worse performing underlying from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Review notes
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| Underlyings: | Euro Stoxx 50 index, iShares MSCI EAFE ETF and iShares MSCI Emerging Markets ETF
|
| Amount: | $927,000
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| Maturity: | May 24, 2022
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par if each underlying finishes at or above 70% of its initial level, otherwise 1% loss for each 1% decline of worse performing underlying from initial level
|
| Call: | At par plus an annualized premium of 13.75% if each underlying closes at or above its initial level on any annual review date, beginning May 21, 2018
|
| Initial levels: | 3,587.01 for Stoxx, $66.11 for EAFE and $41.15 for EM
|
| Trigger levels: | 2,510.907 for Stoxx, $46.277 for EAFE and $28.805 for EM, 70% of initial levels
|
| Pricing date: | May 19
|
| Settlement date: | May 24
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4.125%
|
| Cusip: | 46647MCY7
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