Published on 11/3/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5 million 5.5% coupon callables tied to three indexes
By Susanna Moon
Chicago, Nov. 3 – JPMorgan Chase Financial Co. LLC priced $5 million of 5.5% fixed coupon callable securities due April 30, 2020 linked to the worst 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.
Interest is payable quarterly.
The notes are callable at par on any contingent payment date other than the first and final dates.
The payout at maturity will be par plus the coupon unless any index finishes below its 60% downside threshold, in which case investors will be fully exposed to any losses of the worst 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: | Fixed coupon callable securities
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Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
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Amount: | $5 million
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Maturity: | April 30, 2020
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Coupon: | 5.5%, payable quarterly
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Price: | Par
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Call option: | At par on any payment date other than first and final dates
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Payout at maturity: | Par plus coupon unless any index finishes below 60% trigger, in which case full exposure to any losses of worst performing index
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Initial levels: | 1,508.316 for Russell, 2,581.07 for S&P and 3,652.23 for Stoxx
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Downside thresholds: | 904.9896 for Russell, 1,548.642 for S&P and 2,191.338 for Stoxx; 60% of initial levels
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Pricing date: | Oct. 27
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Settlement date: | Nov. 1
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Agent: | J.P. Morgan Securities LLC with Morgan Stanley Smith Barney LLC as dealer
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Fees: | 0.25%
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Cusip: | 48129HHU4
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