Published on 5/25/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.08 million three-year review notes tied to Stoxx 50
By Susanna Moon
Chicago, May 23 – JPMorgan Chase Financial Co. LLC priced $1.08 million of 0% review notes due May 21, 2021 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 10.75% if the index closes at or above initial level on any annual review date.
If the notes are not called, the payout at maturity will be par unless the index finishes below its 80% trigger level, in which case investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Review notes
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Underlying index: | Euro Stoxx 50
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Amount: | $1,079,000
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Maturity: | May 21, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless index falls by more than 20%, in which case 1% loss for each 1% decline
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Call: | At par plus 10.75% annualized if index closes at or above initial level on May 28, 2019, May 18, 2020 or May 18, 2021
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Initial level: | 3,573.76
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Trigger level: | 2,859.008, 80% of initial level
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Pricing date: | May 18
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Settlement date: | May 23
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 48129MSN7
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