Published on 8/23/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $936,000 of review notes tied to S&P, Russell and Dow
By Marisa Wong
Morgantown, W.Va., Aug. 23 – JPMorgan Chase Financial Co. LLC priced $936,000 of 0% review notes due Aug. 16, 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 7.75% per year if each index closes above its initial level on any annual review date.
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 any index finishes below the 70% trigger level, investors will lose 1% for each 1% decline of the worst 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: | $936,000
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| Maturity: | Aug. 16, 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 worst performing index from initial level
|
| Call: | At par plus an annualized premium of 7.75% if each index closes at or above its initial level on any annual review date
|
| Initial levels: | 2,441.32 for S&P, 1,374.231 for Russell and 21,858.32 for Dow
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| Trigger levels: | 1,708.924 for S&P, 961.9617 for Russell and 15,300.824 for Dow; 70% of initial levels
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| Pricing date: | Aug. 11
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| Settlement date: | Aug. 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 4.125%
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| Cusip: | 46647MF57
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