Published on 8/31/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $459,000 three-year autocallables tied to Stoxx, Russell
By Susanna Moon
Chicago, Aug. 31 – JPMorgan Chase Financial Co. LLC priced $459,000 of 0% autocallable index-linked notes due Sept. 2, 2020 tied to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 11.3% if each index closes at or above its call level on any call observation date. The redemption threshold will be 100% of the initial level on the first review date, stepping down to 95% on the second review date and to 90% on the third date.
The payout at maturity will be par unless either index falls by more than 30%, in which case investors will be fully exposed to any losses of the worse 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 index-linked notes
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| Underlying indexes: | Russell 2000, Euro Stoxx 50
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| Amount: | $459,000
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| Maturity: | Sept. 2, 2020
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 11.3% per year if each index closes at or above call level on Sept. 4, 2018, Aug. 28, 2019 or Aug. 28, 2020; 100% of initial level on first review date, stepping down to 95% on second review date and to 90% on third date
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| Payout at maturity: | Par unless either index falls by more than 30%, in which case par plus return of worse performing index, with full exposure to losses
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| Initial levels: | 3,421.03 for Stoxx, 1,382.229 for Russell
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| Trigger levels: | 2,394.721 for Stoxx, 967.5603 for Russell; 70% of initial levels
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| Pricing date: | Aug. 28
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| Settlement date: | Aug. 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.25%
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| Cusip: | 46647MG31
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