Published on 8/29/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $641,000 autocallable contingent interest notes tied to three stocks
By Marisa Wong
Morgantown, W.Va., Aug. 29 – JPMorgan Chase Financial Co. LLC priced $641,000 of autocallable contingent interest notes due Aug. 30, 2018 linked to the least performing of the common stocks of Amazon.com, Inc., Bristol-Myers Squibb Co. and CSX Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each month, the notes will pay a contingent coupon at an annual rate of 6.5% if each stock closes at or above its 50% barrier level on the review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its strike level on any quarterly review date.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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: | Autocallable contingent interest notes
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| Underlying stocks: | Amazon.com, Inc. (Symbol: AMZN), Bristol-Myers Squibb Co. (Symbol: BMY), CSX Corp. (Symbol: CSX)
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| Amount: | $641,000
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| Maturity: | Aug. 30, 2018
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| Coupon: | 6.5%, payable monthly if each stock closes at or above barrier level on monthly review date
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any stock finishes below trigger level, in which case full exposure to decline of least performing stock
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above strike price on any quarterly review date
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| Initial prices: | $759.22 for Amazon, $58.76 for Bristol-Myers, $28.05 for CSX
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| Barrier/trigger prices: | $379.61 for Amazon, $29.38 for Bristol-Myers, $14.025 for CSX; 50% of initial prices
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| Pricing date: | Aug. 25
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| Settlement date: | Aug. 30
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 3.35%
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| Cusip: | 46646EUW0
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