Published on 4/3/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.25 million trigger autocallable contingent yield notes on indexes
By Marisa Wong
Morgantown, W.Va., April 3 – JPMorgan Chase Financial Co. LLC priced $3.25 million of 0% trigger autocallable contingent yield notes due March 30, 2027 linked to the S&P 500 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 coupon at an annual rate of 7% on a quarter if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par plus the final coupon, if any, unless either index finishes below the 50% downside threshold level, in which case investors will lose 1% for every 1% decline of the worse performing index.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | S&P 500 and Euro Stoxx 50
|
| Amount: | $3.25 million
|
| Maturity: | March 30, 2027
|
| Coupon: | 7%, payable quarterly if each index closes at or above coupon barrier on quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus the final coupon, if any, unless either index finishes below the downside threshold level, in which case investors will lose 1% for every 1% decline of the worse performing index
|
| Call: | At par if each index closes at or above its initial level on any quarterly observation date after one year
|
| Initial levels: | 2,343.98 for S&P, 3,444.15 for Euro Stoxx
|
| Coupon barriers: | 1,640.79 for S&P, 2,410.91 for Euro Stoxx; 70% of initial levels
|
| Downside thresholds: | 1,171.99 for S&P, 1,722.08 for Euro Stoxx; 50% of initial levels
|
| Pricing date: | March 24
|
| Settlement date: | March 29
|
| Agents: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 48129F472
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
