Published on 8/23/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $10.56 million review notes linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., Aug. 23 – JPMorgan Chase Financial Co. LLC priced $10.56 million of 0% review notes due Aug. 24, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus a premium of 10.5% per year if each index closes at or above its initial level on any annual review date.
If the notes are not called and the final level of each index is greater than or equal to its trigger value, 70% of its initial level, the payout at maturity will be par plus 10%. Otherwise, investors will lose 1% for each 1% that the lesser-performing index's final level is less than its initial level.
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 indexes: | S&P 500 and Russell 2000
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| Amount: | $10,561, 000
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| Maturity: | Aug. 24, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If notes are not called and each index finishes at or above trigger level, par plus 10%; otherwise, 1% loss for each 1% that lesser-performing index’s final level is less than initial level
|
| Call: | Automatically at par plus 10.5% per year if each index closes at or above initial level on Aug. 28, 2017, Aug. 20, 2018, Aug. 19, 2019 or Aug. 19, 2020
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| Initial levels: | 2,183.87 for S&P 500 and 1,236.769 for Russell 2000
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| Trigger values: | 1,528.709 for S&P 500 and 865.7383 for Russell 2000; 70% of initial levels
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| Pricing date: | Aug. 19
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| Settlement date: | Aug. 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.4%
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| Cusip: | 46646ERG9
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