Published on 7/27/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.48 million review notes on S&P 500, Russell 2000
By Marisa Wong
Morgantown, W.Va., July 27 – JPMorgan Chase Financial Co. LLC priced $4.48 million of 0% review notes due July 26, 2021 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus an annual call premium of 10.5% if each underlying closes at or above its initial level on any of four annual call dates.
The payout will be par plus the contingent minimum return of 10% unless either underlying finishes below its 70% trigger level, in which case investors will be fully exposed to the losses of the worse performing underlying.
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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Underlyings: | S&P 500, Russell 2000
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Amount: | $4,482,000
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Maturity: | July 26, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus the contingent minimum return of 10% unless either underlying finishes below its 70% trigger level, in which case investors will be fully exposed to the losses of the worse performing underlying
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Call: | At par plus an annual call premium of 10.5% if each underlying closes at or above its initial level on any of four annual call dates
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Initial levels: | 2,472.54 for S&P and 1,435.839 for Russell
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Trigger levels: | 1,730.778 for S&P and 1,005.0873 for Russell; 70% of initial levels
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Pricing date: | July 21
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Settlement date: | July 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | None
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Cusip: | 46647MVX8
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