Published on 1/23/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.98 million capped buffered return enhanced notes tied to index basket
By Wendy Van Sickle
Columbus, Ohio, Jan. 23 – JPMorgan Chase Financial Co. LLC priced $2.98 million of 0% capped buffered return enhanced notes due April 25, 2019 linked to a basket of indexes and exchange traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of, the S&P 500 index with a 60% weight, the iShares MSCI EAFE ETF with a 25% weight, the Russell 2000 index with a 10% weight, and the iShares MSCI Emerging Markets ETF with a 5% weight.
The payout at maturity will be par plus 1.5 times any basket gain, up to a maximum settlement amount of $1,093.50 for each $1,000 principal amount.
Investors will receive par if the basket falls by up to 10% and will lose 1% for each 1% decline beyond the buffer.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Capped buffered return enhanced notes
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| Underlying indexes: | S&P 500 (60% weight), the iShares MSCI EAFE ETF (25% weight), Russell 2000 index (10% weight) the iShares MSCI Emerging Markets ETF (5% weight)
|
| Amount: | $2,978,000
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| Maturity: | April 25, 2019
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 1.5 times any basket gain, capped at 9.35%; if basket falls by up to 10%, par; otherwise, 1% loss for each 1% decline beyond 10%
|
| Initial index levels: | 2,810.30 for S&P, $74.13 for EAFE, 1,597.628 for Russell, 9and $50.44 for Emerging Markets
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| Barrier levels: | 90% of initial levels
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 24
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.6%
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| Cusip: | 48129HXB8
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