Published on 3/8/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $4.35 million of fixed coupon callable notes on indexes
By Devika Patel
Knoxville, Tenn., March 8 – JPMorgan Chase Financial Co. LLC priced $4.34 million of fixed coupon callable securities due March 7, 2019 linked to the worst 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.
Each quarter, the notes pay a coupon at an annual rate of 5.15%.
Beginning Sept. 8, 2017, the notes are callable at par on any coupon payment date, other than the final one.
If each index finishes at or above its downside threshold level, the payout at maturity will be par plus the final coupon. If the final level of any index is less than its downside threshold level, 60% of its initial index level, investors will lose 1% for each 1% decline of the least-performing index plus the final coupon.
J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable securities
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| Underlying indexes: | Euro Stoxx 50, S&P 500 and Russell 2000
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| Amount: | $4,341,000
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| Maturity: | March 7, 2019
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| Coupon: | 5.15% per year, payable quarterly
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| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold level, par plus final coupon; if final level of any index is less than downside threshold level, 1% loss for each 1% decline of lowest-performing index plus final coupon
|
| Call option: | At par on any coupon payment date other than the final one, beginning Sept. 8, 2017
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| Initial index levels: | 3,403.39 for Euro Stoxx 50, 2,383.12 for S&P 500 and 1,394.127 for Russell 2000
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| Downside thresholds: | 2,042.034 for Euro Stoxx 50, 1,429.872 for S&P 500 and 836.4762 for Russell 2000; 60% of initial levels
|
| Pricing date: | March 3
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| Settlement date: | March 8
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
|
| Cusip: | 46646QJ63
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