Published on 3/6/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $896,000 capped buffered notes on two indexes, ETF
By Marisa Wong
Morgantown, W.Va., March 6 – JPMorgan Chase Financial Co. LLC priced $896,000 of 0% capped buffered enhanced participation notes due Feb. 28, 2019 linked to a basket of two indexes and an exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The basket consists of 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.
If the basket return is positive, the payout at maturity will be par plus 2 times the basket gain, subject to a maximum payout of $1,155 per $1,000 note. Investors will receive par if the basket falls by up to 12% and will lose 1% for each 1% decline in the basket 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 enhanced participation notes
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Underlying basket: | S&P 500 index with a 70% weight, Russell 2000 index with a 15% weight and iShares MSCI EAFE exchange-traded fund with a 15% weight
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Amount: | $896,000
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Maturity: | Feb. 28, 2019
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 2 times any basket gain, return capped at 15.5%; par if basket falls by up to 12%; 1% loss for every 1% drop beyond 12%
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Initial levels: | 2,367.34 for S&P 500, 1,394.525 for Russell 2000 and $60.39 for ETF
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Pricing date: | Feb. 24
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Settlement date: | March 1
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.5%
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Cusip: | 46646QKY0
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