Published on 7/21/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.79 million autocallable contingent interest notes on three indexes
New York, July 21 – JPMorgan Chase Financial Co. LLC priced $2.79 million of autocallable contingent interest notes due Oct. 18, 2018 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 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a quarterly coupon at an annual rate of 7.5% if each index closes above its interest barrier level, 70% of its initial level, 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 quarterly review date other than the final date.
The payout at maturity will be par plus the final coupon unless any index finishes below its initial level and closes below its 70% trigger level during the life of the notes, in which case investors will lose 1% for each 1% decline of the lesser performing index from its initial level.
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: | S&P 500, Russell 2000, Euro Stoxx 50
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Amount: | $2,785,000
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Maturity: | Oct. 18, 2018
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Coupon: | 7.5% annualized, payable quarterly if each index closes above its interest barrier level on review date for that quarter
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Price: | Par
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Payout at maturity: | Par plus the final coupon unless any index finishes below its initial level and closes below its 70% trigger level during the life of the notes, in which case 1% loss for each 1% decline of lesser performing index from initial level
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Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than the final date
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Initial levels: | 2,459.27 for S&P, 1,428.817 for Russell, 3,525.94 for Stoxx
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Interest barrier levels: | 1,721.489 for S&P, 1,000.1719 for Russell, 2,468.158 for Stoxx; 70% of initial levels
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Trigger levels: | 1,721.489 for S&P, 1,000.1719 for Russell, 2,468.158 for Stoxx; 70% of initial levels
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Pricing date: | July 14
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Settlement date: | July 19
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.175%
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Cusip: | 46647MWS8
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