Published on 1/5/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.08 million digital notes tied to Euro Stoxx, Russell
By Marisa Wong
Morgantown, W.Va., Jan. 5 – JPMorgan Chase Financial Co. LLC priced $1.08 million of 0% digital notes due Jan. 31, 2019 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If each index closes at or above its 70% trigger level on each day during the life of the notes, the payout at maturity will be par plus the fixed return of 7.25%.
If either index ever breaches the 70% trigger but each index finishes at or above its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worse performing index.
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 notes
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Underlying indexes: | Euro Stoxx 50 and Russell 2000
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Amount: | $1,083,000
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Maturity: | Jan. 31, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index never closes below 70% trigger, par plus 7.25%; if either index ever dips below trigger but each index finishes at or above its initial level, par; otherwise, 1% loss per 1% drop of worse performing index
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Initial levels: | 1,543.937 for Russell and 3,550.17 for Euro Stoxx
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Trigger levels: | 1,080.7559 for Russell and 2,485.119 for Euro Stoxx; 70% of initial levels
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Pricing date: | Dec. 27
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Settlement date: | Jan. 2
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.29328%
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Cusip: | 48129HSX6
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