Published on 4/20/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.77 million contingent interest autocallables on three indexes
By Wendy Van Sickle
Columbus, Ohio, April 20 – JPMorgan Chase Financial Co. LLC priced $1.77 million of autocallable contingent interest notes due April 17, 2020 linked to the lesser performing of the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 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 7.25% if each index closes at or above its barrier level, 70% of its initial level, on a quarterly review date.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the final one.
The payout at maturity will be par unless any index finishes below its 50% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | S&P 500, Euro Stoxx 50, Russell 2000
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| Amount: | $1,765,000
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| Maturity: | April 17, 2020
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| Coupon: | 7.25% annualized, payable quarterly if each underlying index closes at or above barrier level on review date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any index finishes below trigger level, in which case 1% loss for each 1% decline of worse performing index from initial level
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than final one
|
| Initial levels: | 2,328.95 for S&P, 3,448.26 for Stoxx and 1,345.244 for Russell
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| Barrier levels: | 1,630.265 for S&P, 2,413.782 for Stoxx and 941.6708 for Russell; 70% of initial levels
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| Trigger levels: | 1,164.475 for S&P, 1,724.13 for Stoxx and 672.622 for Russell; 50% of initial levels
|
| Pricing date: | April 13
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| Settlement date: | April 19
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.4%
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| Cusip: | 46646QQR9
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