Published on 9/27/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $9.94 million review notes linked to S&P 500, Russell
By Devika Patel
Knoxville, Tenn., Sept. 27 – JPMorgan Chase Financial Co. LLC priced $9.94 million of 0% review notes due Sept. 28, 2020 linked to 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 an annualized call premium of 10.25% per year if each index closes at or above its initial level on any annual call review date.
If the notes are not called, the payout at maturity will be par plus 10% if each index finishes at or above 70% of its initial level. If either index finishes below the 70% trigger level, investors will lose 1% for each 1% decline 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 and Russell 2000
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Amount: | $9,936,000
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Maturity: | Sept. 28, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 10% if each index finishes at or above 70% of its initial level, otherwise 1% loss for each 1% decline of worse-performing index
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Call: | At par plus an annualized premium of 10.25% if each index closes at or above its initial level on any annual review date
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Initial levels: | 2,164.69 for S&P, 1,254.623 for Russell
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Trigger levels: | 1,515.283 for S&P, 878.2361 for Russell, 70% of initial levels
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Pricing date: | Sept. 23
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Settlement date: | Sept. 30
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.4%
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Cusip: | 46646EWF5
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