Published on 10/17/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.47 million four-year review notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Oct. 17 – JPMorgan Chase Financial Co. LLC priced $1.47 million of 0% review notes due Oct. 13, 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 9.8% per year if each index closes at or above its initial level on any annual review date.
If the notes are not called, the payout at maturity will be par plus the 10% contingent minimum return if each index finishes above it 70% trigger level; Otherwise, investors will have full exposure to the losses of the worse performing index.
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
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Amount: | $1,472,000
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Maturity: | Oct. 13, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 10% contingent minimum return if each index finishes above trigger level; otherwise, full exposure to loss of worse performing index
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Call: | At par plus 9.8% per year if each index closes at or above initial level on any annual review date
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Initial levels: | 2,925.51 for S&P, 1,671.294 for Russell
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Trigger levels: | 2,047.857 for S&P, 1,169.9058 for Russell; 70% of initial levels
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Pricing date: | Oct. 3
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Settlement date: | Oct. 11
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0%
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Cusip: | 48130UMN2
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