Published on 4/23/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.41 million five-year review notes on three indexes
By Susanna Moon
Chicago, April 23 – JPMorgan Chase Financial Co. LLC priced $1.41 million of 0% review notes due April 20, 2023 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium of 8.25% per year if each index closes at or above its initial level on any annual review date.
If the notes are not called, the payout at maturity will be par unless any index finishes below 70% of its initial level, in which case investors will be fully exposed to the decline of the worst performing index.
The notes are guaranteed by JPMorgan Chase & Co.
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, Russell 2000
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Amount: | $1,413,000
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Maturity: | April 20, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless any index finishes below trigger, in which case 1% loss for each 1% decline of worst performing index
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Call: | At par plus 8.25% per year if each index closes at or above initial level on any annual review date beginning April 18, 2019
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Initial levels: | 2,706.39 for S&P, 1,579.802 for Russell and 24,786.63 for Dow
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Barrier levels: | 1,623.834 for S&P, 947.8812 for Russell and 14,871.978 for Dow, 60% of initial levels
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Pricing date: | April 17
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Settlement date: | April 20
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Agent: | J.P. Morgan Securities LLC
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Fees: | 4.075%
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Cusip: | 48129MFU5
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