Published on 12/30/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.17 million review notes on S&P 500, SPDR S&P Biotech
By Wendy Van Sickle
Columbus, Ohio, Dec. 30 – JPMorgan Chase Financial Co. LLC priced $2.17 million of 0% review notes due Dec. 29, 2020 linked to the S&P 500 index and the SPDR S&P Biotech 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 14% per year if each underlying closes above its initial level on any annual call review date.
If the notes are not called, the payout at maturity will be par plus 6% if each underlying finishes at or above 50% of its initial level. If either underlying finishes below the 50% trigger level, investors will lose 1% for each 1% decline of the worse performing underlying from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Review notes
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| Underlyings: | S&P 500 index and SPDR S&P Biotech ETF
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| Amount: | $2,168,000
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| Maturity: | Dec. 29, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 6% if each underlying finishes at or above 50% of its initial level, otherwise 1% loss for each 1% decline of worse performing underlying from initial level
|
| Call: | At par plus an annualized premium of 14% if each underlying closes at or above its initial level on any annual review date
|
| Initial levels: | 2,263.79 for S&P 500, $61.53 for Biotech
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| Trigger levels: | 1,131.895 for S&P 500, $30.765 for Biotech, 50% of initial levels
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| Pricing date: | Dec. 23
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| Settlement date: | Dec. 29
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.4%
|
| Cusip: | 46646QER2
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