Published on 7/19/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.97 million buffered return enhanced notes linked to basket
By Angela McDaniels
Tacoma, Wash., July 19 – JPMorgan Chase Financial Co. LLC priced $2.97 million of 0% capped buffered return enhanced notes due July 18, 2019 linked to a basket containing one index and four exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The basket components are the S&P 500 index with a 56% weight, the iShares MSCI EAFE exchange-traded fund with a 24% weight, the iShares Russell 2000 exchange-traded fund with a 7% weight, the SPDR S&P MidCap 400 ETF trust with a 7% weight and the iShares MSCI Emerging Markets exchange-traded fund with a 6% weight.
The payout at maturity will be par plus 1.5 times any basket gain, up to a maximum return of 35%. Investors will receive par if the basket falls by 20% or less and will lose 1.25% for each 1% that the basket may decline beyond 20%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Capped buffered return enhanced notes
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| Underliers: | S&P 500 index (56% weight), iShares MSCI EAFE ETF (24% weight), iShares Russell 2000 ETF (7% weight), SPDR S&P MidCap 400 ETF trust (7% weight) and iShares MSCI Emerging Markets ETF (6% weight)
|
| Amount: | $2,965,000
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| Maturity: | July 18, 2019
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus two times any basket gain, up to 35% maximum return; par if basket declines by 20% or less; 1.25% loss for every 1% that basket may decline beyond 20%
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| Initial levels: | 2,161.74 for S&P 500, $56.94 for iShares MSCI EAFE, $119.70 for iShares Russell 2000, $280.87 for SPDR S&P MidCap 400 and $35.69 for iShares MSCI Emerging Markets
|
| Pricing date: | July 15
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| Settlement date: | July 20
|
| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 46646EPN6
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