Published on 2/21/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $999,000 review notes linked to S&P 500, Russell 2000
By Marisa Wong
Morgantown, W.Va., Feb. 21 – JPMorgan Chase Financial Co. LLC priced $999,000 of 0% review notes due Feb. 20, 2019 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 will be guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus a call premium of 7% per year if each index closes at or above its initial level on Aug. 15, 2017, Feb. 15, 2018, Aug. 15, 2018 or Feb. 15, 2019.
If the notes are not called and the final level of each index is greater than or equal to its trigger value, 75% of its initial level, the payout will be par plus 10%. Otherwise, investors will lose 1% for each 1% that the lesser-performing index finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Review notes
|
Underlying indexes: | S&P 500 and Russell 2000
|
Amount: | $999,000
|
Maturity: | Feb. 20, 2019
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If the final level of each index is greater than or equal to its trigger value, par plus 10%; otherwise, 1% loss for each 1% that the lesser-performing index finishes below its initial level
|
Call: | At par plus a call premium of 7% per year if each index closes at or above its initial level on Aug. 15, 2017, Feb. 15, 2018, Aug. 15, 2018 or Feb. 15, 2019
|
Initial levels: | 2,349.25 for S&P and 1,404.207 for Russell
|
Trigger levels: | 1,761.9375 for S&P and 1,053.15525 for Russell; 75% of initial levels
|
Pricing date: | Feb. 15
|
Settlement date: | Feb. 21
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 2.625%
|
Cusip: | 46646QD28
|
|
© 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.