Published on 3/31/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.17 million of digital notes tied to Stoxx, Russell
By Devika Patel
Knoxville, Tenn., March 31 – JPMorgan Chase Financial Co. LLC priced $5.17 million of digital notes due April 30, 2018 linked to the lesser performing of the Euro Stoxx 50 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 payout at maturity will be par plus a contingent digital return of 6.15% if each index closes at or above the 60% trigger level on each day during the life of the notes.
If either index ever closes below its 60% trigger level, investors will receive par, unless either index also finishes below its initial level, in which case investors will lose 1% for each 1% decline of the worse performing index.
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: | Digital notes
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Underlying indexes: | Euro Stoxx 50 and Russell 2000
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Amount: | $5,171,000
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Maturity: | April 30, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 6.15% if each index closes at or above the trigger level on every day during the life of the notes; if either index ever closes below the trigger level, par, unless either index also finishes below its initial level, in which case 1% loss for each 1% decline of worse performing index
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Initial levels: | 3,475.27 for Stoxx and 1,371.645 for Russell
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Trigger levels: | 2,085.162 for Stoxx and 822.987 for Russell; 60% of initial levels
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Pricing date: | March 31
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Settlement date: | April 3
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Agent: | J.P. Morgan Securities LLC
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Fees: | None
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Cusip: | 46646QX75
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