Published on 9/27/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $7.41 million four-year review notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Sept. 27 – JPMorgan Chase Financial Co. LLC priced $7.41 million of 0% review notes due Oct. 14, 2022 linked to the worse performing of the S&P 500 index and the Russell 2000 index, 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 7.4% per year if each index closes at or above its applicable call value on any annual review date. The call value is equal to the initial level for the first three review dates and equal to 70% of the initial level for the final review date.
If the notes are not called, the payout at maturity will be par plus the return of the worse performing index with full exposure to losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Review notes
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $7,412,000
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| Maturity: | Oct. 14, 2022
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus return of worse performing index with 1% loss for each 1% decline
|
| Call: | At par plus 7.4% per year if each index closes at or above applicable call value on any annual review date; call value is equal to the initial level for the first three review dates and equal to 70% of the initial level for the final review date
|
| Initial levels: | 2,929.67 for S&P, 1,712.316 for Russell
|
| Final call value: | 2,050.769 for S&P, 1,198.6212 for Russell; 70% of initial levels
|
| Pricing date: | Sept. 21
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| Settlement date: | Sept. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.25%
|
| Cusip: | 48130UHW8
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