Published on 7/29/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $11.21 million buffered PLUS linked to three indexes, two ETFs
By Angela McDaniels
Tacoma, Wash., July 29 – JPMorgan Chase Financial Co. LLC priced $11.21 million of 0% buffered Performance Leveraged Upside Securities due July 30, 2021 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The basket consists of the S&P 500 index with a 60% weight and the S&P MidCap 400 index, the Russell 2000 index, the MSCI EAFE index and the MSCI Emerging Markets index with a 10% weight each.
If the basket return is positive, the payout at maturity will be par of $10 plus 120% of the basket return, up to a maximum return of 74%. Investors will receive par if the basket falls by up to 15% and will lose 1% for every 1% that it may decline beyond 15%.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Buffered Performance Leveraged Upside Securities
|
| Underlying indexes: | S&P 500 (60% weight), S&P MidCap 400 (10% weight), Russell 2000 (10% weight), MSCI EAFE (10% weight) and MSCI Emerging Markets (10% weight)
|
| Amount: | $11,206,700
|
| Maturity: | July 30, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket return is positive, par plus 120% of basket return, up to 74% maximum return; par if basket falls by up to 15%; 1% loss for every 1% that basket may decline beyond 15%
|
| Initial levels: | 2,166.58 for S&P 500; 1,548.49 for S&P MidCap 400; 1,218.927 for Russell 2000; 1,660.26 for MSCI EAFE and 874.05 for MSCI Emerging Markets
|
| Pricing date: | July 27
|
| Settlement date: | Aug. 1
|
| Agent: | J.P. Morgan Securities LLC
|
| Distribution: | Morgan Stanley Smith Barney LLC
|
| Fees: | 3.5%
|
| Cusip: | 46646W193
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