Published on 5/27/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.72 million trigger step notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., May 27 – JPMorgan Chase Financial Co. LLC priced $1.72 million of 0% trigger step securities due May 29, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of 35.5% and the index return. Investors will receive par if the index declines by 25% or less and will be fully exposed to the index’s decline from its initial level if it declines beyond 25%.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Trigger step securities
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Underlying index: | S&P 500
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Amount: | $1,721,500
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Maturity: | May 29, 2020
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Coupon: | 0%
|
Price: | Par
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Payout at maturity: | If index return is zero or positive, par plus greater of 35.5% and index return; par if index declines by 25% or less; full exposure to decline from initial level if index declines beyond 25%
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Initial level: | 2,090.54
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Downside threshold: | 1,567.91, 75% of initial level
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Pricing date: | May 25
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Settlement date: | May 31
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Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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Fees: | 0.5%
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Cusip: | 46646W201
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