Published on 9/28/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $10 million jump autocallables linked to CAC 40, FTSE MIB, IBEX 35
By Angela McDaniels
Tacoma, Wash., Sept. 28 – JPMorgan Chase Financial Co. LLC priced $10 million of 0% jump securities with autocallable feature due Oct. 1, 2020 linked to the worst performing of the CAC 40 index, the FTSE MIB index and the IBEX 35 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par of $10 plus a call premium of 10% per year if each index closes at or above its initial level on either annual call observation date.
If each index finishes at or above its downside threshold level, 70% of its initial level, the payout at maturity will be par plus 30%. If the final level of any index is less than its downside threshold level, investors will lose 1% for every 1% that the worst-performing index declines from its initial level.
J.P. Morgan Securities LLC is the underwriter. Distribution is through Morgan Stanley Wealth Management.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Jump securities with autocallable feature
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Underlying indexes: | CAC 40, FTSE MIB and IBEX 35
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Amount: | $10 million
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Maturity: | Oct. 1, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If each index finishes at or above downside threshold level, par plus 30%; if final level of any index is less than downside threshold level, 1% loss for every 1% that worst-performing index declines from initial level
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Call: | Automatically at par plus call premium of 10% per year if each index closes at or above initial level on Oct. 3, 2018 or Sept. 26, 2019
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Initial index levels: | 5,268.76 for CAC 40, 22,430.65 for FTSE MIB and 10,189.60 for IBEX 35
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Downside thresholds: | 3,688.132 for CAC 40, 15,701.455 for FTSE MIB and 7,132.72 for IBEX 35; 70% of initial levels
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Pricing date: | Sept. 26
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Settlement date: | Sept. 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48129J418
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