Published on 10/10/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $5.7 million digital variable coupon notes linked to nine stocks
By Marisa Wong
Morgantown, W.Va., Oct. 10 – JPMorgan Chase Financial Co. LLC priced $5.7 million of digital variable coupon notes due Oct. 3, 2023 linked to an equally weighted based of nine stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The basket includes the stocks of AbbVie Inc., Alibaba Group Holding Ltd., Altria Group, Inc., American Water Works Co., Inc., Baxter International Inc., Facebook Inc., Lincoln National Corp., OneMain Holdings, Inc. and XL Group Ltd.
Every six months, the notes will pay a coupon equal to the sum of the weighted performances of each basket stock, subject to a minimum coupon rate of 0.5%. If a stock’s return on a coupon determination date is greater than or equal to zero, its performance will be equal to the coupon cap of 7%. If its return is less than zero, its performance will be the greater of its return and negative 20%.
The payout at maturity will be par plus the final coupon.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Digital variable coupon notes
|
| Underlying basket: | AbbVie Inc. (Symbol: ABBV), Alibaba Group Holding Ltd. (Symbol: BABA), Altria Group, Inc. (Symbol: MO), American Water Works Co., Inc. (Symbol: AWK), Baxter International Inc. (Symbol: BAX), Facebook Inc. (Symbol: FB), Lincoln National Corp. (Symbol: LNC), OneMain Holdings, Inc. (Symbol: OMF) and XL Group Ltd. (Symbol: XL); equally weighted
|
| Amount: | $5.7 million
|
| Maturity: | Oct. 3, 2023
|
| Coupon: | Semiannual coupon equal to the sum of the weighted performances of each basket stock, subject to a minimum coupon rate of 0.5%; if a stock’s return on a coupon determination date is greater than or equal to zero, its performance will be equal to the coupon cap of 7%; if its return is less than zero, its performance will be the greater of its return and negative 20%
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon
|
| Initial prices: | $88.86 for AbbVie, $172.71 for Alibaba, $63.42 for Altria, $80.91 for American Water, $62.75 for Baxter, $170.87 for Facebook, $73.48 for Lincoln National, $28.19 for OneMain, $39.45 for XL
|
| Pricing date: | Sept. 29
|
| Settlement date: | Oct. 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.35%
|
| Cusip: | 46647MNH2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
