Published on 8/18/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2 million five-year review notes tied to three indexes
By Susanna Moon
Chicago, Aug. 18 – JPMorgan Chase Financial Co. LLC priced $2.02 million of 0% review notes due Aug. 19, 2022 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 16.5% if each index closes at or above its initial level on any annual call date.
If the notes are not called, the payout at maturity will be par unless any index finishes below its 705 trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Smith Barney LLC is a distributor.
| 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 Euro Stoxx 50 index
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| Amount: | $2,017,000
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| Maturity: | Aug. 19, 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 16.5% per year if each index closes at or above its initial level on any annual call date
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| Initial levels: | 1,383.534 for Russell, 2,468.11 for S&P and 3,484.57 for Stoxx
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| Triggers: | 968.4738 for Russell, 1,727.677 for S&P and 2,439.199 for Stoxx; 70% of initial levels
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| Pricing date: | Aug. 16
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| Settlement date: | Aug. 21
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| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Smith Barney LLC as distributor
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| Fees: | 0.67538%
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| Cusip: | 46647MN66
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