Published on 6/21/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.42 million trigger autocallable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, June 21 – JPMorgan Chase Financial Co. LLC priced $1.42 million of trigger autocallable contingent yield notes due June 19, 2020 linked to the MSCI EAFE index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 8.4% if each index closes at or above its coupon barrier level, 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 beginning Dec. 18, 2017.
The payout at maturity will be par plus the final coupon, if any, unless either index finishes below the downside threshold, 70% of its initial level, in which case investors will lose 1% for every 1% loss of the worse performing index.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantors: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | MSCI EAFE, Euro Stoxx 50
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| Amount: | $1,415,000
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| Maturity: | June 19, 2020
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| Coupon: | 8.4%, payable quarterly if indexes close at or above coupon barriers on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par unless either index finishes below downside threshold, in which case full exposure to decline of lesser-performing index
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| Call: | Beginning Dec. 18, 2017, automatically at par if indexes close at or above initial levels on any quarterly observation date other than final one
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| Initial index levels: | 1,892.93 for MSCI EAFE, 3,543.88 for Euro Stoxx
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| Barriers/thresholds: | 1,325.05 for MSCI EAFE, 2,480.72 for Euro Stoxx 50; 70% of initial levels
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| Pricing date: | June 16
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| Settlement date: | June 21
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48129G695
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