Published on 12/7/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.08 million review notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Dec. 7 – JPMorgan Chase Financial Co. LLC priced $1.08 million of 0% review notes due Dec. 5, 2019 linked to the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE 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 15.5% per year if each asset closes at or above its initial level on any annual call review date beginning Dec. 7, 2017.
If the notes are not called, the payout at maturity will be par if each asset finishes at or above 70% of its initial level. If any asset finishes below the 70% trigger level, investors will lose 1% for each 1% decline of the worst-performing asset 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
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| Underlying assets: | S&P 500, Russell 2000, iShares MSCI EAFE ETF
|
| Amount: | $1,078,000
|
| Maturity: | Dec. 5, 2019
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if each asset finishes at or above trigger level; otherwise 1% loss for each 1% decline of worst-performing asset from initial level
|
| Call: | At par plus an annualized premium of 15.5% if each asset closes at or above its initial level on any annual review date beginning Dec. 7, 2017
|
| Initial levels: | 2,198.81 for S&P, 1,322.339 for Russell, $56.79 for fund
|
| Trigger levels: | 1,539.167 for S&P, 925.6373 for Russell, $39.753 for fund, 70% of initial levels
|
| Pricing date: | Nov. 30
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| Settlement date: | Dec. 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.75%
|
| Cusip: | 46646QDT9
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