Published on 7/1/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $4.46 million digital equity notes on MSCI EAFE index
By Devika Patel
Knoxville, Tenn., July 1 – JPMorgan Chase Financial Co. LLC priced $4.46 million of 0% digital equity notes due May 3, 2018 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above 80% of its initial index level, the payout at maturity will be the threshold settlement amount of $1,088 for each $1,000 of notes.
Otherwise, investors will lose 1.25% for each 1% decline in the index beyond 20%.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Digital equity notes
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Underlying index: | MSCI EAFE
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Amount: | $4,455,000
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Maturity: | May 3, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above 80% threshold level, $1,088 for each $1,000 of notes; otherwise, 1.25% loss per 1% drop beyond 20%
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Initial level: | 1,546.73
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Threshold level: | 1,237.38, 80% of initial level
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Pricing date: | June 28
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Settlement date: | July 6
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 46646EHN5
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