Published on 12/15/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.45 million five-year review notes linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 15 – JPMorgan Chase Financial Co. LLC priced $1.45 million of 0% review notes due Dec. 16, 2022 linked to the least 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 will be called at par plus a call premium at an annual rate of 7.45% if each index closes at or above its initial level on any quarterly review date after one year.
If the notes are not called, the payout at maturity will be par unless either index closes below the 55% trigger level, in which case investors will have full exposure to the loss of the laggard index.
The notes are guaranteed by JPMorgan Chase & Co.
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, Russell 2000
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Amount: | $1,452,000
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Maturity: | Dec. 16, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless either index finishes below trigger level, in which case 1% loss for each 1% decline of worst performing index
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Call: | At par plus 7.45% per year if each index closes at or above initial level on any quarterly review date after a year
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Initial index levels: | 2,662.85 for S&P 500 and 1,524.446 for Russell 2000
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Trigger levels: | 1,464.5675 for S&P 500 and 838.4453 for Russell 2000, 55% of initial levels
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Pricing date: | Dec. 13
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Settlement date: | Dec. 18
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.125%
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Cusip: | 48129HE4
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