Published on 6/19/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.55 million contingent interest autocallables tied to three indexes
By Wendy Van Sickle
Columbus, Ohio, June 19 – JPMorgan Chase Financial Co. LLC priced $5.55 million of autocallable contingent interest notes due Sept. 19, 2018 linked to the lesser performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.5% if each index closes at or above its 70% coupon barrier on the review date for that quarter.
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 date.
The payout at maturity will be par unless any index finishes below its initial level and ever closes below its 70% trigger during the life of the notes, in which case investors will lose 1% for each 1% decline of the worst performing index.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx 50
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| Amount: | $5,554,000
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| Maturity: | Sept. 19, 2018
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| Coupon: | 6.5% annualized, payable quarterly if each underlying index closes at or above 70% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless any index falls below its initial level and ever dips below 70% trigger, in which case 1% loss for each 1% decline of worst performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than final date
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| Initial index levels: | 3,547.15 for Stoxx, 2,437.92 for S&P and 1,417.573 for Russell
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| Coupon barriers/triggers: | 2,483.005 for Stoxx, 1,706.544 for S&P and 992.3011 for Russell, 70% of initial levels
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| Pricing date: | June 14
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| Settlement date: | June 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.03750%
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| Cusip: | 46647MLL5
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