Published on 3/31/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $9.56 million review notes on Euro Stoxx 50 and S&P 500
By Devika Patel
Knoxville, Tenn., March 31 – JPMorgan Chase Financial Co. LLC priced $9.56 million of 0% review notes due April 1, 2022 linked to the Euro Stoxx 50 index and the S&P 500 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 9.5% if each index closes above its initial level on any quarterly review date after six months.
If the notes are not called, the payout at maturity will be par if each index finishes at or above 70% of its initial level. Otherwise, investors will lose 1% for each 1% decline of the worse performing index from its initial level.
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: | Euro Stoxx 50 and S&P 500
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Amount: | $9,562,000
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Maturity: | April 1, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par if each index finishes at or above 70% of its initial level, otherwise 1% loss for each 1% decline of worse performing index from its initial level
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Call: | At par plus annualized call premium of 9.5% if each index closes at or above its initial level on any quarterly review date after six months
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Initial levels: | 3,475.27 for Stoxx, 2,361.13 for S&P
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Trigger levels: | 2,432.689 for Stoxx, 1,652.791 for S&P, 70% if initial levels
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Pricing date: | March 29
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Settlement date: | March 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.35%
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Cusip: | 46646QY90
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