Published on 4/25/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $6.79 million callable contingent interest notes linked to indexes
By Devika Patel
Knoxville, Tenn., April 25 – JPMorgan Chase Financial Co. LLC priced $6.79 million of callable contingent interest notes due April 30, 2019 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 10.15% if each index closes at or above its trigger level, 75% of its initial level, on the review date for that quarter.
Beginning July 21, the notes may be called at par in whole but not in part on any interest payment date other than the final one.
If the notes have not been called, the payout at maturity will be par plus the final coupon unless any index has finished below its trigger level, 75% of its initial level, in which case investors will lose 1% for every 1% decline of the worst 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: | S&P 500 index, Russell 2000 index and Euro Stoxx 50
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Amount: | $6,785,000
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Maturity: | April 30, 2019
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Coupon: | Notes pay quarterly contingent coupon at annual rate of 10.15% if each index closes at or above trigger level on review date for that quarter
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Price: | Par
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Payout at maturity: | Par plus coupon unless any index finishes below 75% of its initial value, in which case 1% loss for every 1% decline of worst-performing index
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Call: | At par on any quarterly review date other than final one, beginning on July 21
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Initial levels: | 2,348.69 for S&P, 1,379.854 for Russell and 3,440.27 for Stoxx
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Trigger levels: | 1,761.5175 for S&P, 1,034.8905 for Russell and 2,580.2025 for Stoxx; 75% of initial levels
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Pricing date: | April 21
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Settlement date: | April 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 46646Q6L4
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