Published on 6/14/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1 million contingent buffered notes on basket of seven stocks
By Marisa Wong
Morgantown, W.Va., June 14 – JPMorgan Chase Financial Co. LLC priced $1 million of 0% capped contingent buffered equity notes due June 4, 2021 linked to a basket of seven stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The equally weighted basket includes the common stock of Illumina, Inc., the common stock of Incyte Corp., the American Depositary Shares of Infosys Ltd., the ordinary shares of Jazz Pharmaceuticals plc, the common stock of Micron Technology, Inc., the common stock of Skyworks Solutions, Inc. and the common stock of Tesla, Inc.
If the basket return is positive, the payout at maturity will be par plus the basket return, subject to a maximum payment of $2,250 per $1,000 principal amount of notes. If the basket remains flat or declines by up to 15%, the payout will be par. If the basket declines by more than 15%, investors will be fully exposed to the basket’s decline from its initial level.
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: | Capped contingent buffered equity notes
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| Underlying basket: | Illumina, Inc. (Symbol: ILMN), Incyte Corp. (Symbol: INCY), Infosys Ltd. (Symbol: INFY), Jazz Pharmaceuticals plc (Symbol: JAZZ), Micron Technology, Inc. (Symbol: MU), Skyworks Solutions, Inc. (Symbol: SWKS) and Tesla, Inc. (Symbol: TSLA); equally weighted
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| Amount: | $1 million
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| Maturity: | June 4, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket return is positive, par plus basket gain, capped at 125%; if basket remains flat or declines by up to 15%, par; if basket declines by more than 15%, full exposure to basket decline from initial level
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| Initial prices: | $177.36 for Illumina, $129.33 for Incyte, $15.10 for Infosys, $145.56 for Jazz, $30.77 for Micron, $106.43 for Skyworks, $341.01 for Tesla
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| Pricing date: | May 31
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| Settlement date: | June 5
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 46647MDR1
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