Published on 6/1/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $500,000 contingent interest autocallables tied to indexes, fund
By Susanna Moon
Chicago, June 1 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due May 26, 2022 linked to the lesser performing of the Euro Stoxx 50 index, the Russell 2000 index and the Health Care Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.15% if each component closes at or above its trigger 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 component closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless any component finishes below its 70% trigger level, in which case investors will lose 1% for each 1% 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 contingent interest notes
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| Underlying assets: | Euro Stoxx 50 index, Russell 2000 index and Health Care Select Sector SPDR fund
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| Amount: | $500,000
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| Maturity: | May 26, 2022
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| Coupon: | 7.15% annualized, payable quarterly if each underlying component closes at or above trigger level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any component falls below trigger level, in which case 1% loss for each 1% decline of worst performing component
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| Call: | At par plus contingent coupon if each component closes at or above initial level on any review date other than first and final dates
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| Initial levels: | 3,576.53 for Stoxx, 1,377.139 for Russell, $75.23 for healthcare fund
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| Trigger levels: | 2,503.571 for Stoxx, 963.9973 for Russell, $52.661 for healthcare fund, 70% of initial levels
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| Pricing date: | May 22
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| Settlement date: | May 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.275%
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| Cusip: | 46647MDC4
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