Published on 6/21/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $7.08 million review notes linked to S&P 500, Russell
By Marisa Wong
Morgantown, W.Va., June 21 – JPMorgan Chase Financial Co. LLC priced $7.08 million of 0% review notes due June 22, 2020 linked to the lesser 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 premium of 11.5% per year if each index closes at or above its initial level on any annual review date.
If the notes are not called and the final level of each index is greater than or equal to its trigger value, 70% of its initial level, the payout at maturity will be par plus 10%. Otherwise, investors will lose 1% for each 1% that the lesser-performing index’s final level is less than its initial level.
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 and Russell 2000
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| Amount: | $7,076,000
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| Maturity: | June 22, 2020
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If notes are not called and each index finishes at or above trigger level, par plus 10%; otherwise, 1% loss for each 1% that lesser-performing index’s final level is less than initial level
|
| Call: | Automatically at par plus 11.5% per year if each index closes at or above initial level on June 21, 2017, June 18, 2018, June 17, 2019 or June 17, 2020
|
| Initial levels: | 2,071.22 for S&P 500 and 1,144.698 for Russell 2000
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| Trigger values: | 1,449.854 for S&P 500 and 801.2886 for Russell 2000; 70% of initial levels
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| Pricing date: | June 17
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| Settlement date: | June 24
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.4%
|
| Cusip: | 46646EEA6
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