Published on 7/3/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.78 million four-year review notes on Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, July 3 – JPMorgan Chase Financial Co. LLC priced $1.78 million of 0% review notes due June 15, 2022 linked to the worse performing of the Euro Stoxx 50 index and the Russell 2000 index, 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 8.5% 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 three 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 worse performing index with full exposure to any losses.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Review notes
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Underlying indexes: | Euro Stoxx 50, Russell 2000
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Amount: | $1,784,000
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Maturity: | June 15, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus return of worse performing index with 1% loss for each 1% decline
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Call: | At par plus 8.5% per year if each index closes at or above initial level on first three annual review dates or at or above 70% trigger level on final review date
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Initial levels: | 3,441.6 for Euro Stoxx and 1,685.577 for Russell
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Trigger levels: | 2,409.12 for Euro Stoxx and 1,179.9039 for Russell, 70% of initial levels
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Pricing date: | June 22
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Settlement date: | June 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.5%
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Cusip: | 48129MVY9
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