Published on 6/26/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $740,000 of review notes tied to S&P, Russell and Dow
By Devika Patel
Knoxville, Tenn., June 26 – JPMorgan Chase Financial Co. LLC priced $740,000 of 0% review notes due June 27, 2022 linked to the S&P 500 index, the Russell 2000 index and the 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 an annualized call premium of 9% per year if each index closes above its initial level on any annual review date beginning June 29, 2018.
If the notes are not called, the payout at maturity will be par 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, Russell 2000 and Dow Jones Industrial Average
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| Amount: | $740,000
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| Maturity: | June 27, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par 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 any annual review date beginning June 29, 2018
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| Initial levels: | 2,434.50 for S&P, 1,404.538 for Russell, 21,397.29 for Dow
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| Trigger levels: | 1,704.15 for S&P, 983.1766 for Russell, 14,978.103 for Dow, 70% of initial levels
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| Pricing date: | June 22
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| Settlement date: | June 27
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.625%
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| Cusip: | 46647MHC0
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