Published on 5/23/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.4 million review notes linked to three indexes
By Marisa Wong
Morgantown, W.Va., May 23 – JPMorgan Chase Financial Co. LLC priced $1.4 million of 0% review notes due May 24, 2022 linked to the least performing of the S&P 500 index, Russell 2000 index and Dow Jones industrial average, 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 call premium of 8% a year if each index closes at or above its initial level on any annual call 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.
Otherwise, investors will lose 1% for each 1% that the least performing index finishes below 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 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $1,403,000
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| Maturity: | May 24, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below trigger level, in which case 1% loss for each 1% decline of worst performing index
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| Call: | At par plus a call premium of 8% a year if each index closes at or above its initial level on any annual call date
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| Initial index levels: | 2,381.73 for S&P, 1,367.330 for Russell and 20,804.84 for Dow
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| Trigger levels: | 1,667.211 for S&P, 957.131 for Russell and 14,563.388 for Dow; 70% of initial levels
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| Pricing date: | May 19
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| Settlement date: | May 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.375%
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| Cusip: | 46647MCW1
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