Published on 5/8/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $815,000 callable contingent interest notes linked to indexes
By Angela McDaniels
Tacoma, Wash., May 8 – JPMorgan Chase Financial Co. LLC priced $815,000 of callable contingent interest notes due May 11, 2027 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 are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes pay a contingent coupon at an annual rate of 7% if each index closes at or above its trigger value, 60% of its initial level, on the review date for during that quarter.
The notes are callable at par on any interest payment date other than the first and final interest payment dates.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its trigger value, in which case investors will lose 1.66667% for every 1% that the least-performing index declines beyond 40%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
|
| Amount: | $815,000
|
| Maturity: | May 11, 2027
|
| Contingent coupon: | 7% per year, payable quarterly if each index closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below trigger value, in which case 1.66667% loss for every 1% that least-performing index declines beyond 40%
|
| Call: | Callable at par on any interest payment date other than first and final ones
|
| Initial index levels: | 2,398.52 for S&P 500, 1,388.846 for Russell 2000 and 3,627.88 for Euro Stoxx 50
|
| Trigger values: | 1,433.712 for S&P 500, 833.3076 for Russell 2000 and 2,176.728 for Euro Stoxx 50; 60% of initial levels
|
| Pricing date: | May 4
|
| Settlement date: | May 11
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 46647MJU8
|
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