Published on 8/16/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.38 million contingent income callable notes on three indexes
By Tali Rackner
Norfolk, Va., Aug. 16 – JPMorgan Chase Financial Co. LLC priced $1.38 million of callable contingent interest notes due Aug. 20, 2018 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 10.85% if each index closes above its 75% interest barrier on the observation date for that quarter.
The notes will be callable at par on any review date other than the final date.
The payout at maturity will be par unless any index finishes below its 75% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
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: | Contingent income callable securities
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Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
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Amount: | $1,375,000
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Maturity: | Aug. 20, 2018
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Coupon: | 10.85% per year, payable quarterly if each index closes at or above its downside threshold level on each day during that quarter
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Price: | Par
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Payout at maturity: | If each index finishes at or above trigger level, par plus final contingent coupon; if final level of any index is less than trigger level, full exposure to decline of lowest-performing index
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Call option: | At par on any quarterly determination date other than final one
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Initial index levels: | 2,184.05 for S&P 500, 1,229.82 for Russell 2000 and 3,944.94 for Euro Stoxx 50
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Barrier/trigger levels: | 1,638.0375 for S&P 500, 922.365 for Russell 2000 and 2,283.705 for Euro Stoxx 50; 75% of initial levels
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Pricing date: | Aug. 12
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Settlement date: | Aug. 19
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 46646EUV2
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