Published on 8/24/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.49 million 6% yield autocallables on indexes, fund
By Susanna Moon
Chicago, Aug. 24 – JPMorgan Chase Financial Co. LLC priced $3.49 million of 6% autocallable yield notes due Nov. 28, 2018 linked to the lesser performing of the Russell 2000 index, the Euro Stoxx 50 index and the PowerShares QQQ Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each underlying component 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 underlying component finishes below its initial level and ever closes below its 67% trigger level during the life of the notes, in which case investors will be fully exposed to any decline of the worst performing component.
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 yield notes
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| Underlying assets: | Russell 2000 index, Euro Stoxx 50 index and the PowerShares QQQ Trust, series 1
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| Amount: | $3,487,000
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| Maturity: | Nov. 28, 2018
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| Issue price: | Par
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| Coupon: | 6% annualized, payable monthly
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| Payout at maturity: | Par unless any component finishes below its initial level and ever closes below its 67% trigger level, in which case 1% loss per 1% decline of worst performing component
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| Call: | At par if each component closes at or above initial level on any review date other than final date
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| Initial levels: | 1,371.537 for Russell, 3,455.59 for Stoxx and $143.20 for fund
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| Barrier levels: | 918.92979 for Russell, 2,315.2453 for Stoxx and $95.944 for fund; 67% of initial levels
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| Pricing date: | Aug. 22
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| Settlement date: | Aug. 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.975%
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| Cusip: | 46647MZA4
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