Published on 2/22/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.08 million review notes linked to MLP index, oil services ETF
By Wendy Van Sickle
Columbus, Ohio, Feb. 22 – JPMorgan Chase Financial Co. LLC priced $3.08 million of 0% review notes due Feb. 22, 2021 linked to the lesser performing of the Alerian MLP index and the VanEck Vectors Oil Services exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus a call premium of 16% per year if each underlier closes at or above its initial level on any annual review date.
If the notes are not called and the final level of each underlier is greater than or equal to its trigger value, 70% of its initial level, the payout will be par plus 10%. Otherwise, investors will lose 1% for each 1% that the lesser-performing underlier finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Review notes
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| Underlying assets: | Alerian MLP index and VanEck Vectors Oil Services exchange-traded fund
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| Amount: | $1,065,000
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| Maturity: | Feb. 22, 2021
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 10% unless either asset falls by more than 30%, in which case full exposure to any losses of worse performing asset
|
| Call: | At par plus 16% per year if each asset closes at or above initial level on Feb. 23, 2018, Feb. 22, 2019, Feb. 21, 2020 or Feb. 22, 2021
|
| Initial levels: | 334.44 for index and $32.24 for ETF
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| Trigger levels: | 234.108 for index and $22.638 for ETF; 70% of initial levels
|
| Pricing date: | Feb. 17
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| Settlement date: | Feb. 27
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.4%
|
| Cusip: | 46646QC29
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