Published on 5/1/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.25 million notes on basket of four Asian currencies
By Marisa Wong
Morgantown, W.Va., May 1 – JPMorgan Chase Financial Co. LLC priced $4.25 million of 0% notes due April 26, 2019 linked to the performance of an equally weighted basket of four currencies relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The basket consists of the Indian rupee, Indonesian rupiah, New Taiwan dollar and offshore Chinese renminbi.
The payout at maturity will be par plus 1.4 times the basket return, subject to a minimum payout of par and a maximum payout of $1,400 per $1,000 principal amount.
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: | Notes
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Underlying basket: | Indian rupee, Indonesian rupiah, New Taiwan dollar and offshore Chinese renminbi; equally weighted; relative to U.S. dollar
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Amount: | $4,245,000
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Maturity: | April 26, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.4 times the basket return, subject to a minimum payout of par and a maximum payout of $1,400 per $1,000 principal amount
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Initial spot rates: | 64.5701 for rupee, 13,320 for rupiah, 30.3360 for New Taiwan dollar, 6.8797 for offshore renminbi
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Pricing date: | April 21
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Settlement date: | April 26
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 46646Q5T8
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