Published on 11/4/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $654,000 review notes linked to oil ETF, S&P 500
By Angela McDaniels
Tacoma, Wash., Nov. 4 – JPMorgan Chase Financial Co. LLC priced $654,000 of 0% review notes due Oct. 29, 2020 linked to the lesser performing of the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production 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 of 16% per year if each underlier closes at or above its initial level on any annual review date.
If the notes are not called and the final level of each underlier is greater than or equal to its trigger value, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% that the lesser-performing underlier's final level is less than its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Review notes
|
| Underliers: | S&P 500 index and SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $654,000
|
| Maturity: | Oct. 29, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and each underlier finishes at or above trigger level, par; otherwise, 1% loss for each 1% that lesser-performing underlier’s final level is less than initial level
|
| Call: | Automatically at par plus 16% per year if each underlier closes at or above initial level on Nov. 2, 2017, Oct. 26, 2018, Oct. 29, 2019 or Oct. 26, 2020
|
| Initial levels: | 2,139.43 for index and $36.77 for ETF
|
| Trigger values: | 1,283.658 for index and $22.062 for ETF; 60% of initial levels
|
| Pricing date: | Oct. 26
|
| Settlement date: | Nov. 2
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.4%
|
| Cusip: | 46646EW99
|
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