Published on 6/27/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1 million digital notes on Russell, S&P, Euro Stoxx
By Marisa Wong
Morgantown, W.Va., June 27 – JPMorgan Chase Financial Co. LLC priced $1 million of 0% digital notes due July 23, 2019 linked to the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
A trigger event occurs if any index closes below its trigger value, 70% of its initial value, on any day during the life of the notes.
If a trigger event has not occurred, the payout at maturity will be par plus the contingent digital return of 8.85%.
If a trigger event has occurred but each index finishes at or above its initial value, the payout will be par.
Otherwise, investors will be fully exposed to any decline of the worst 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: | Russell 2000 index, S&P 500 index and Euro Stoxx 50 index
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| Amount: | $1 million
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| Maturity: | July 23, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index closes at or above trigger value every day during life of notes, par plus 8.85%; if any index closes below its trigger value on any day during life of notes but each index finishes at or above initial value, par; otherwise, 1% loss for each 1% decline of worst performing index
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| Initial value: | 1,692.460 for Russell, 2,773.75 for S&P and 3,466.65 for Euro Stoxx
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| Trigger value: | 1,184.722 for Russell, 1,941.625 for S&P and 2,426.655 for Euro Stoxx; 70% of initial value
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| Pricing date: | June 18
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| Settlement date: | June 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.35%
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| Cusip: | 48129M3E4
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