Published on 9/13/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $386,000 contingent buffered notes tied to Russell, S&P
By Susanna Moon
Chicago, Sept. 13 – JPMorgan Chase Financial Co. LLC priced $386,000 of 0% contingent buffered return enhanced notes due Aug. 31, 2023 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its 120% upside leverage threshold, the payout at maturity will be par plus the contingent minimum return of 20% plus 1.2 times any gain of the worse performing index beyond 20%.
If either asset gains by up to its upside threshold or falls by up to the 40% contingent buffer, the payout will be par plus 20%.
Otherwise, investors will lose 1% for each 1% decline of the worse performing index.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Uncapped contingent buffered return enhanced notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $386,000
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| Maturity: | Aug. 31, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each asset gains by more than 20%, par plus 20% and 1.2 times return of worse performing asset beyond 20%; if either asset gains by up to 20% or falls by up to 40%, par plus 20%; otherwise, 1% loss for each 1% decline of worse performing index
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| Initial levels: | 1,740.753 for Russell and 2,901.52 for S&P
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| Upside thresholds: | 2,088.9036 for Russell and 3,481.824 for S&P, 120% of initial levels
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| Contingent buffer: | 40%
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 6
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.58744%
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| Cusip: | 48129MZ74
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