Published on 3/31/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.47 million callable contingent interest notes on three indexes
By Marisa Wong
Morgantown, W.Va., March 31 – JPMorgan Chase Financial Co. LLC priced $1.47 million of callable contingent interest notes due April 1, 2019 linked to the least 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 will be guaranteed by JPMorgan Chase & Co.
If each index closes at or above its coupon barrier, 75% of its initial level, on a quarterly observation date, the notes will pay a contingent coupon for the related quarter at an annual rate of 12%.
The notes are callable at par on any contingent coupon payment date other than the final one.
If each index finishes at or above its 75% trigger level, the payout at maturity will be par plus the final contingent coupon. If the final level of any index is less than its downside threshold level, investors will be fully exposed to the decline of the least-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: | Callable contingent interest notes
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| Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
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| Amount: | $1.47 million
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| Maturity: | April 1, 2019
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| Coupon: | 12% per year, payable each quarter that each index closes at or above its coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its downside threshold level, in which case full exposure to the decline of the least-performing index
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| Call option: | At par on any contingent coupon payment date other than the final one
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| Initial levels: | 2,345.96 for S&P and 1,353.425 for Russell (closing levels on pricing date); 3,444.15 for Stoxx (closing level on March 24)
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| Coupon barriers: | 1,759.47 for S&P, 1,015.06875 for Russell, 2,583.1125 for Stoxx; 75% of initial levels
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| Trigger levels: | 1,759.47 for S&P, 1,015.06875 for Russell, 2,583.1125 for Stoxx; 75% of initial levels
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| Pricing date: | March 23
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| Settlement date: | March 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 46646QX67
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