Published on 12/27/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $620,000 review notes due 2024 on Russell, S&P, Dow
By Sarah Lizee
Olympia, Wash., Dec. 27 – JPMorgan Chase Financial Co. LLC priced $620,000 of 0% review notes due Dec. 27, 2024 linked to the worse 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 an annual call premium of 11.7% if each index closes at or above its initial level on any annual review date except the final one when the call level will be 70% of the initial level.
If the notes are not called, the payout at maturity will be par unless any underlying index finishes below 70% trigger 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Review notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Dow Jones Industrial Average
|
| Amount: | $620,000
|
| Maturity: | Dec. 27, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below trigger level, in which case par plus return of worse performing index with 1% loss for each 1% decline
|
| Call: | At par plus 11.7% per year if each index closes at or above initial level on any annual review date except the final one when the call level will be 70% of the initial level
|
| Initial levels: | 2,416.62 for S&P, 1,292.086 for Russell, 22,445.37 for Dow
|
| Trigger levels: | 1,691.634 for S&P, 904.4602 for Russell, 15,711.759 for Dow, 70% of initial levels
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 31
|
| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0%
|
| Cusip: | 48130WLZ2
|
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