Published on 3/23/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $12.3 million contingent coupon autocallables on indexes
By Susanna Moon
Chicago, March 23 – JPMorgan Chase Financial Co. LLC priced $12.3 million of contingent coupon autocallable yield notes due March 21, 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.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 10.3% if each index closes at or above its barrier level, 75% of its initial level, on the observation date for that quarter.
The payout at maturity will be par plus the final coupon unless any index finishes below its 75% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing index.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date other than the final one.
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 coupon autocallable yield notes
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| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
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| Amount: | $12,303,000
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| Maturity: | March 21, 2019
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| Coupon: | 10.3% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
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| Price: | Par
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| Call: | At par if each index closes at or above its initial level on any quarterly observation date other than final date
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| Payout at maturity: | Par plus the final coupon unless any index finishes below its 75% barrier level, in which case 1% loss for each 1% decline of the worst performing index
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| Initial index levels: | 2,378.25 for S&P, 1,391.524 for Russell, 3,448.41 for Stoxx
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| Barrier levels: | 1,783.6875 for S&P, 1,043.643 for Russell, 2,586.3075 for Stoxx; 75% of initial levels
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| Pricing date: | March 17
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| Settlement date: | March 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 46646QMX0
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