New Issue: JPMorgan sells $15.51 million of review notes on S&P 500, Russell 2000

By Devika Patel

Knoxville, Tenn., Nov. 22 – JPMorgan Chase Financial Co. LLC priced $15.51 million of 0% review notes due Nov. 23, 2020 linked to 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 10.5% per year if each index closes at or above its initial level on any annual call review date beginning Nov. 27, 2017.

If the notes are not called, the payout at maturity will be par plus 10% if each index finishes at or above 70% of its initial level. If either index finishes below the 70% trigger level, investors will lose 1% for each 1% decline of the worse-performing index from its initial level.

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 and Russell 2000
Amount:	$15,508,000
Maturity:	Nov. 23, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 10% if each index finishes at or above trigger level; otherwise 1% loss for each 1% decline of worse-performing index from initial level
Call:	At par plus an annualized premium of 10.5% if each index closes at or above its initial level on any annual review date beginning Nov. 27, 2017
Initial levels:	2,181.90 for S&P, 1,315.642 for Russell
Trigger levels:	1,527.33 for S&P, 920.9494 for Russell, 70% of initial levels
Pricing date:	Nov. 18
Settlement date:	Nov. 28
Agent:	J.P. Morgan Securities LLC
Fees:	2.4%
Cusip:	46646E3A8

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.