Published on 4/22/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.62 million five-year review notes on Russell, S&P, Dow
By Sarah Lizee
Olympia, Wash., April 22 – JPMorgan Chase Financial Co. LLC priced $3.62 million of 0% review notes due April 22, 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 8.25% if each index closes at or above its initial level on any annual review date after one year.
If the notes are not called, the payout at maturity will be par unless any underlying index finishes below 65% 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: | $3,621,000
|
| Maturity: | April 22, 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 8.25% per year if each index closes at or above initial level on any annual review date after one year
|
| Initial levels: | 2,900.45 for S&P, 1,567.597 for Russell, 26,449.54 for Dow
|
| Trigger levels: | 1,885.2925 for S&P, 1,018.93805 for Russell, 17,192.201 for Dow, 65% of initial levels
|
| Pricing date: | April 17
|
| Settlement date: | April 22
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4.125%
|
| Cusip: | 48130WM32
|
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