Published on 2/7/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $28.94 million trigger callable contingent yield notes on indexes
By Marisa Wong
Morgantown, W.Va., Feb. 7 – JPMorgan Chase Financial Co. LLC priced $28.94 million of trigger callable contingent yield notes with daily coupon observation due Feb. 11, 2019 linked to worst performing of the Russell 2000 index, the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 10.4% if each index closes at or above the coupon barrier, 70% of the initial price, on each trading day during the observation period for that quarter.
The notes will be callable at par on any observation date other than the final date.
The payout at maturity will be par unless any index finishes below the 70% downside threshold, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
|
| Amount: | $28,941,900
|
| Maturity: | Feb. 11, 2019
|
| Contingent coupon: | 10.4%, payable quarterly if each index closes at or above coupon barrier on each day during quarterly observation period
|
| Price: | Par of $10
|
| Call option: | At par on any quarterly observation date other than final date
|
| Payout at maturity: | Par unless any index finishes below downside threshold, in which case full exposure to any losses of the worst performing index
|
| Initial levels: | 1,377.837 for Russell, 2,297.42 for S&P, 3,273.11 for Stoxx
|
| Coupon barriers: | 964.486 for Russell, 1,608.19 for S&P, 2,291.18 for Stoxx; 70% of initial levels
|
| Downside thresholds: | 964.486 for Russell, 1,608.19 for S&P, 2,291.18 for Stoxx; 70% of initial levels
|
| Pricing date: | Feb. 3
|
| Settlement date: | Feb. 10
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48129F804
|
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