Published on 10/12/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.28 million contingent income callable notes on indexes
By Susanna Moon
Chicago, Oct. 12 – JPMorgan Chase Financial Co. LLC priced $4.28 million of callable contingent interest notes due Oct. 11, 2018 linked to the least performing of the Euro Stoxx 50 index, the S&P 500 index and the Russell 2000 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 13.15% if each index closes above its 75% coupon 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: | Euro Stoxx 50, S&P 500, Russell 2000
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| Amount: | $4,275,000
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| Maturity: | Oct. 11, 2018
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| Coupon: | 13.15% annualized, payable quarterly if each index closes at or above its 75% coupon barrier on each day during that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below 75% trigger level, in which case full exposure to any losses of worst performing index
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| Call option: | At par on any quarterly determination date other than final date
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| Initial index levels: | 3,000.57 for Euro Stoxx, 1,236.559 for Russell and 2,153.74 for S&P
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| Trigger levels: | 2,250.4275 for Euro Stoxx, 927.41925 for Russell and 1,615.305 for S&P; 75% of initial levels
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| Pricing date: | Oct. 7
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| Settlement date: | Oct. 13
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| Agent: | J.P. Morgan Securities LLC
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 1.5%
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| Cusip: | 46646ET28
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