Published on 9/29/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $270,000 return notes linked to basket of 15 stocks
By Marisa Wong
Morgantown, W.Va., Sept. 29 – JPMorgan Chase Financial Co. LLC priced $270,000 of 0% return notes due Oct. 10, 2018 linked to an unequally weighted basket of 15 stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The underlying companies are Honeywell International Inc., Raytheon Co., Southwest Airlines Co., Fortive Corp., Textron Inc., United Rentals, Inc., Boeing Co., Caterpillar Inc., Norfolk Southern Corp. and Rockwell Automation, Inc., each with a 7.5% weight; and Lockheed Martin Corp., FedEx Corp., CSX Corp., Stanley Black & Decker, Inc. and Parker-Hannifin Corp., each with a 5% weight.
The payout at maturity will be par plus the basket return times a basket adjustment factor of 99.65%. Investors will receive less than par if the basket return is less than 0.35123%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Return notes
|
| Underlying basket: | Honeywell International Inc. (Symbol: HON), Raytheon Co. (Symbol: RTN), Southwest Airlines Co. (Symbol: LUV), Fortive Corp. (Symbol: FTV), Textron Inc. (Symbol: TXT), United Rentals, Inc. (Symbol: URI), Boeing Co. (Symbol: BA), Caterpillar Inc. (Symbol: CAT), Norfolk Southern Corp. (Symbol: NSC) and Rockwell Automation, Inc. (Symbol: ROK), each with a 7.5% weight; and Lockheed Martin Corp. (Symbol: LMT), FedEx Corp. (Symbol: FDX), CSX Corp. (Symbol: CSX), Stanley Black & Decker, Inc. (Symbol: SWK) and Parker-Hannifin Corp. (Symbol: PH), each with a 5% weight
|
| Amount: | $270,000
|
| Maturity: | Oct. 10, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus the basket return times a basket adjustment factor of 99.65%
|
| Initial price: | $141.75 for Honeywell, $184.69 for Raytheon, $54.93 for Southwest, $70.03 for Fortive, $53.09 for Textron, $132.31 for United Rentals, $256.45 for Boeing, $124.43 for Caterpillar, $130.99 for Norfolk Southern, $177.55 for Rockwell, $308.54 for Lockheed Martin, $220.00 for FedEx, $53.10 for CSX, $151.22 for Black & Decker, $177.11 for Parker-Hannifin
|
| Final price: | Average of closing share prices on five trading dates ending Oct. 5, 2018
|
| Pricing date: | Sept. 22
|
| Settlement date: | Sept. 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.5%
|
| Cusip: | 48129HAK3
|
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