Published on 10/28/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $10.58 million review notes linked to S&P 500, Russell
By Susanna Moon
Chicago, Oct. 28 – JPMorgan Chase Financial Co. LLC priced $10.58 million of review notes due Oct. 26, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 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 an annualized call premium of 10.75% if each index closes at or above its initial level on any of four annual review dates.
The payout at maturity will be par plus a contingent minimum return of 10% unless either index finishes below its 70% trigger level, in which case the payout will be par plus the return of the worse performing index, with full exposure to losses.
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 and Russell 2000
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| Amount: | $10,582,000
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| Maturity: | Oct. 26, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 10% unless either index falls by more than 30%, in which case full exposure to any losses of worse performing index
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| Call: | At par plus 10.75% per year if each index closes at or above initial level on Oct. 27, 2017, Oct. 22, 2018, Oct. 21, 2019 or Oct. 21, 2020
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| Payout at maturity: | Par unless either index finishes below trigger level, in which case full exposure to any losses of worse performing index
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| Initial levels: | 2,141.16 for S&P and 1,218.096 for Russell
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| Trigger levels: | 1,498.812 for S&P and 852.6672 for Russell; 70% of initial levels
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| Pricing date: | Oct. 21
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| Settlement date: | Oct. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.4%
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| Cusip: | 46646EK27
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