Published on 1/18/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $297,000 of review notes tied to S&P 500, Russell 2000
By Devika Patel
Knoxville, Tenn., Jan. 18 – JPMorgan Chase Financial Co. LLC priced $297,000 of 0% review notes due Jan. 19, 2021 linked to 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 an annualized call premium of 9% per year if each index closes above its initial level on the Jan. 22, 2018, Jan. 14, 2019, Jan. 13, 2020 or Jan. 13, 2021 review dates.
If the notes are not called, the payout at maturity will be par plus 10% if each index finishes at or above 70% of its initial level. If either index finishes below the 70% trigger level, investors will lose 1% for each 1% decline of the worse performing index from 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: | $297,000
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| Maturity: | Jan. 19, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 10% if each index finishes at or above 70% of its initial level, otherwise 1% loss for each 1% decline of worse performing index from initial level
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| Call: | At par plus an annualized premium of 9% if each index closes at or above its initial level on the Jan. 22, 2018, Jan. 14, 2019, Jan. 13, 2020 or Jan. 13, 2021 review dates
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| Initial levels: | 2,274.64 for S&P, 1,372.047 for Russell
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| Trigger levels: | 1,592.248 for S&P, 960.4329 for Russell, 70% of initial levels
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| Pricing date: | Jan. 13
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| Settlement date: | Jan. 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
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| Cusip: | 46646QUU7
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