Published on 12/20/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.5 million trigger callable contingent yield notes on three indexes
By Devika Patel
Knoxville, Tenn., Dec. 20 – JPMorgan Chase Financial Co. LLC priced $4.5 million of trigger callable contingent yield notes due June 20, 2019 linked to the worst 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.
JPMorgan Chase & Co. is the guarantor.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if each index closes at or above its barrier level, 65% of its initial level, on each day during the quarterly observation period.
The notes are callable at par on any coupon payment date.
The payout at maturity will be par of $10 unless any index finishes below its 65% trigger level, in which case investors will lose 1% for each 1% decline of the worst-performing index.
UBS Financial Services Inc. is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
|
| Amount: | $4.5 million
|
| Maturity: | June 20, 2019
|
| Coupon: | 10% per year, payable quarterly if each index closes at or above its barrier level each day that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless any index finishes below trigger level, in which case 1% loss for each 1% decline of worst-performing index
|
| Call option: | At par quarterly on any coupon date
|
| Initial levels: | 2,258.07 for S&P 500, 1,364.189 for Russell 2000, 3,259.24 for Euro Stoxx 50
|
| Barrier/trigger levels: | 1,467.75 for S&P 500, 886.723 for Russell 2000, 2,118.51 for Euro Stoxx 50; 65% of initial levels
|
| Pricing date: | Dec. 16
|
| Settlement date: | Dec. 21
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 1.5%
|
| Cusip: | 48128P456
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