Published on 7/10/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.7 million review notes linked to EAFE ETF, Russell
By Angela McDaniels
Tacoma, Wash., July 10 – JPMorgan Chase Financial Co. LLC priced $3.7 million of 0% review notes due Jan. 10, 2019 linked to the lesser performing of 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 a premium if each underlier closes at or above its initial level on Jan. 5, 2018, July 5, 2018 or Jan. 7, 2019. The call premium is 4.5% for the first review date, 9% for the second review date and 13.5% for the final review date.
The payout at maturity will be par plus 5% unless the final level of either underlier is less than its initial level by more than 20%, in which case investors will lose 1.25% for each 1% that the lesser-performing underlier declines beyond 20%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Review notes
|
| Underliers: | Russell 2000 index and iShares MSCI EAFE ETF
|
| Amount: | $3,695,000
|
| Maturity: | Jan. 10, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 5% unless final level of either underlier is less than initial level by more than 20%, in which case 1.25% loss for each 1% that lesser-performing underlier declines beyond 20%
|
| Call: | Automatically at par plus premium if each underlier closes at or above initial level on Jan. 5, 2018, July 5, 2018 or Jan. 7, 2019; call premium is 4.5% for first review date, 9% for second review date and 13.5% for final review date
|
| Initial levels: | 1,420.147 for index and $65.12 for ETF (closing levels on July 5)
|
| Pricing date: | July 6
|
| Settlement date: | July 11
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.15%
|
| Cusip: | 46647MWM1
|
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