Published on 11/9/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $8.17 million contingent income callable notes on three indexes
By Marisa Wong
Morgantown, W.Va., Nov. 9 – JPMorgan Chase Financial Co. LLC priced $8.17 million of callable contingent interest notes due Nov. 8, 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.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9.5% if each index closes at or above its 65% downside threshold on each day during 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 downside threshold, 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
|
| 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: | $8,169,000
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| Maturity: | Nov. 8, 2018
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| Coupon: | 9.5% per year, payable quarterly if each index closes at or above its downside threshold level on each day during that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index falls by more than 35%, in which case full exposure to any losses of worst performing index
|
| Call option: | At par on any quarterly determination date other than final date
|
| Initial levels: | 2,954.53 for Euro Stoxx, 2,085.18 for S&P, 1,163.439 for Russell
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| Downside threshold: | 1,920.4445 for Euro Stoxx, 1,355.367 for S&P, 756.23535 for Russell; 65% of initial levels
|
| Pricing date: | Nov. 4
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| Settlement date: | Nov. 9
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 46646E5R9
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