Published on 9/23/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.62 million autocallable yield notes linked to three indexes
By Angela McDaniels
Tacoma, Wash., Sept. 23 – JPMorgan Chase Financial Co. LLC priced $2.62 million of 6% autocallable yield notes due Dec. 27, 2017 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par unless any index closes below its trigger value, 65% of its initial level, during the life of the notes and any index finishes below its initial level, in which case investors be exposed to the decline of the least-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
|
| Amount: | $2,622,000
|
| Maturity: | Dec. 27, 2017
|
| Coupon: | 6%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any index closes below trigger value during life of notes and any index finishes below initial level, in which case exposure to decline of least-performing index
|
| Call: | At par if each index closes at or above initial level on any quarterly review date other than final one
|
| Initial index levels: | 2,163.12 for S&P 500, 1,245.040 for Russell 2000 and 2,982.18 for Euro Stoxx 50
|
| Trigger levels: | 1,406.028 for S&P 500, 809.276 for Russell 2000 and 1,938.417 for Euro Stoxx 50; 65% of initial levels
|
| Pricing date: | Sept. 21
|
| Settlement date: | Sept. 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.475%
|
| Cusip: | 46646EYA4
|
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