Published on 12/19/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $41.49 million digital notes linked to S&P Banks index
By Angela McDaniels
Tacoma, Wash., Dec. 19 – JPMorgan Chase Financial Co. LLC priced $41.49 million of 0% digital equity notes due Feb. 21, 2018 linked to the S&P Banks Select Industry index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the index return is greater than or equal to negative 10%, the payout at maturity will be par plus 8.5%. Otherwise, investors will lose 1.1111% for every 1% that the index declines beyond 10%.
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: | Digital equity notes
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Underlying index: | S&P Banks Select Industry index
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Amount: | $41,485,000
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Maturity: | Feb. 21, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is greater than or equal to negative 10%, par plus 8.5%; otherwise, 1.1111% loss for every 1% that index declines beyond 10%
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Initial index level: | 960.80
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Pricing date: | Dec. 15
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Settlement date: | Dec. 22
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.17%
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Cusip: | 46646QBG9
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