Published on 4/12/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $550,000 review notes on S&P 500, Russell 2000, Dow Jones
By Tali Rackner
Minneapolis, April 12 – JPMorgan Chase Financial Co. LLC priced $550,000 of 0% review notes due April 11, 2022 linked to 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.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus a premium of 13.5% per year if each index closes at or above its initial level on any yearly review date.
If the notes are not called and the final level of each index is equal to or greater than its trigger level, 70% of its initial level, the payout at maturity will be par plus the contingent minimum return of 10%. Otherwise, investors will lose 1% for each 1% that the least-performing index’s final level is less than its initial level.
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, Dow Jones industrial average
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| Amount: | $550,000
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| Maturity: | April 11, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If notes are not called and final level of each index is at or above its trigger level, par plus 10%; otherwise, 1% loss for each 1% that the least-performing index’s final level is less than its initial level
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| Call: | At par plus a premium of 13.5% per year if each index closes at or above its initial level on any yearly review date
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| Initial levels: | 2,604.47 for S&P, 1,513.297 for Russell and 23,932.76 for Dow
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| Trigger levels: | 1,823.129 for S&P, 1,059.3079 for Russell and 16,752.932 for Dow; 70% of initial levels
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| Pricing date: | April 6
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| Settlement date: | April 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48129MJV9
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