Published on 7/21/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $5.18 million trigger contingent yield autocallables on MSCI EM, Stoxx
New York, July 21 – JPMorgan Chase Financial Co. LLC priced $5.18 million of trigger autocallable contingent yield notes due July 17, 2020 linked to the lesser performing of the MSCI Emerging Markets 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 contingent quarterly coupon at an annual rate of 7% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
Starting on Jan. 16, 2018, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus any coupon unless either index finishes below the 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | MSCI Emerging Markets and Euro Stoxx 50
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| Amount: | $5,177,500
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| Maturity: | July 17, 2020
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| Coupon: | 7%, payable quarterly if each index closes at or above coupon barrier level on observation date
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| Price: | Par of $10
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| Call: | Starting Jan. 16, 2018, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
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| Payout at maturity: | Par plus any coupon unless index closes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
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| Initial levels: | 1,047.05 for MSCI EM, 3,525.94 for Stoxx
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| Coupon barriers/downside thresholds: | 732.94 for MSCI EM, 2,468.16 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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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48129G471
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