Published on 3/13/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.1 million digital dual directional notes linked to S&P 500, Russell 2000
By Angela McDaniels
Tacoma, Wash., March 13 – JPMorgan Chase Financial Co. LLC priced $2.1 million of 0% digital dual directional buffered notes due Sept. 26, 2019 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.
For each index, the final index level will be the average of its closing levels on the trading days from June 24, 2019 to and including Sept. 23, 2019.
If the final level of each index is greater than or equal to its initial level or is less than its initial level by up to 20%, the payout at maturity will be par plus 14.55%. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines beyond 20%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Digital dual directional buffered notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $2.1 million
|
| Maturity: | Sept. 26, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of each index is greater than or equal to initial level or is less than initial level by up to 20%, par plus 14.55%; otherwise, 1% loss for every 1% that lesser-performing index declines beyond 20%
|
| Initial index levels: | 2,364.87 for S&P 500 and 1,360.119 for Russell 2000
|
| Final index levels: | For each index, average of its closing levels on trading days from June 24, 2019 to and including Sept. 23, 2019
|
| Pricing date: | March 9
|
| Settlement date: | March 14
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.4%
|
| Cusip: | 46646QU37
|
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