Published on 12/14/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $996,000 contingent buffered return notes tied to S&P, Russell
By Susanna Moon
Chicago, Dec. 14 – JPMorgan Chase Financial Co. LLC priced $996,000 of 0% contingent buffered return enhanced notes due Nov. 30, 2022 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.
If each index finishes above its 118% upside threshold, the payout at maturity will be par plus 1.2 times the gain of the worse performing index over the contingent minimum return of 18%.
If either index gains by up the upside threshold or falls by up to the 40% contingent buffer, the payout will be par plus the fixed return of 18%.
Otherwise, 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: | Uncapped contingent buffered return enhanced notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $996,000
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| Maturity: | Nov. 30, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index gains by more than 18%, par plus 1.2 times return of worse performing index over 18%; if either index gains by up to 18% or falls by up to 40%, par plus 18%; otherwise, 1% loss per 1% decline of worse performing index
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| Initial index levels: | 1,544.141 for Russell and 2,647.58 for S&P
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| Upside threshold: | 1,822.08638 for Russell and 3,124.1444 for S&P, 118% of initial levels
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| Contingent buffer: | 40%
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 5
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.73958%
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| Cusip: | 48129HMA2
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