Published on 6/20/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1 million review notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., June 20 – JPMorgan Chase Financial Co. LLC priced $1 million of 0% review notes due June 20, 2019 linked to 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 a premium of 9.4% per year if the index closes at or above its initial level on any annual review date.
If the notes are not called and the final index level is less than the initial index level by up to 10%, the payout at maturity will be par. Otherwise, investors will lose 1.1111% for each 1% that the index declines beyond 10%.
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 index: | S&P 500
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Amount: | $1 million
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Maturity: | June 20, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If notes are not called and final index level is less than initial index level by up to 10%, par; otherwise, 1.1111% loss for each 1% that index declines beyond 10%
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Call: | Automatically at par plus 9.4% per year if index closes at or above initial level on June 30, 2017, June 18, 2018 or June 17, 2019
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Initial index level: | 2,077.99
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Final index level: | Average of index’s closing levels on five trading days ending June 17, 2019
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Pricing date: | June 16
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Settlement date: | June 21
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 46646EHT2
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