Published on 6/27/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 contingent buffer digital notes on S&P, Dow, Russell
By Susanna Moon
Chicago, June 27 – JPMorgan Chase Financial Co. LLC priced $500,000 of 0% contingent buffered equity notes due June 27, 2024 linked to the least 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.
If each underlying index finishes above its initial, the payout at maturity will be par plus a fixed return of 70%.
If any asset falls by up to the 30% contingent buffer, the payout will be par plus the absolute value of the return of the worst performing index.
Otherwise, investors will lose 1% for each 1% 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
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Uncapped dual directional contingent buffered equity notes
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Underlying indexes: | S&P 500 index, Russell 2000 and Dow Jones industrial average
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Amount: | $500,000
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Maturity: | June 27, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each asset gains, par plus 70%; if any asset falls by up to 30%, par plus absolute return of worst performing index; otherwise, 1% loss for each 1% decline of worst performing index
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Initial levels: | 2,754.88 for S&P, 1,685.577 for Russell and 24,580.89 for Dow
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Contingent buffer: | 30%
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Pricing date: | June 22
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Settlement date: | June 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.7%
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Cusip: | 48129M4C7
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