Published on 5/8/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.12 million 7% yield autocallables tied to three stocks
By Susanna Moon
Chicago, May 8 – JPMorgan Chase Financial Co. LLC priced $2.12 million of 7% autocallable yield notes due Nov. 2, 2018 linked to the common stocks of Hilton Worldwide Holdings Inc., Netflix, Inc. and Coach, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each stock closes at or above its call level on any review date. The call level will be 95% of the strike value for the first seven review dates, dropping to 90% of the strike value for five review dates and to 85% of the strike value for the remaining three review dates.
The payout at maturity will be par unless any stock finishes below its 53.5% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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 stocks: | Hilton Worldwide Holdings Inc. (Symbol: HLT), Netflix, Inc. (Symbol: NFLX) and Coach, Inc. (Symbol: COH)
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| Amount: | $2.12 million
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| Maturity: | Nov. 2, 2018
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| Issue price: | Par
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| Coupon: | 7% annualized, payable monthly
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| Payout at maturity: | Par unless any stock falls below 53.5% trigger, in which case full exposure to any losses of worst performing stock
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| Call: | At par if each stock closes at or above call level on any monthly review date; call level will be 95% of strike value for the first seven review dates, falling to 90% of strike value for five review dates and to 85% of strike value for the remaining three review dates
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| Initial levels: | $60.60 for Hilton, $150.17 for Netflix, Inc. and $39.42 for Coach
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| Trigger levels: | $32.421 for Hilton, $80.34095 for Netflix, Inc. and $21.0897 for Coach; 53.5% of initial levels
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| Strike date: | April 26, 2017
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| Pricing date: | April 27
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| Settlement date: | May 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 46646Q7J8
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