Published on 12/30/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.08 million capped buffered return notes on indexes, fund
By Wendy Van Sickle
Columbus, Ohio, Dec. 30 – JPMorgan Chase Financial Co. LLC priced $1.08 million of 0% capped buffered return enhanced notes due Dec. 28, 2018 linked to a basket containing the S&P 500 index with a 70% weight, the Russell 2000 index with a 15% weight and the iShares MSCI EAFE exchange-traded fund, with a 15% weight, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the basket finishes at or above its initial level, the payout at maturity will be par plus 2 times the basket return, capped at 17%.
If the basket falls by up to 12%, the payout will be par; otherwise, investors will lose 1% for each 1% basket decline beyond 12%.
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: | Capped buffered return enhanced notes
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Basket components: | S&P 500 index (70% weight), Russell 2000 index (15% weight) and iShares MSCI EAFE exchange-traded fund (15% weight)
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Amount: | $1,075,000
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Maturity: | Dec. 28, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket gains, par plus 2 times return, capped at 17%; if basket falls by up to 12%, par; otherwise, 1% loss for each 1% drop beyond 12%
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Initial levels: | 2,260.96 for S&P, 1,362.659 for Russell and $57.53 for iShares MSCI EAFE
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Contingent buffer: | 12%
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Pricing date: | Dec. 22
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Settlement date: | Dec. 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.5%
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Cusip: | 46646QEA9
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