Published on 8/18/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.3 million contingent interest callables on indexes, fund
By Susanna Moon
Chicago, Aug. 18 – JPMorgan Chase Financial Co. LLC priced $2.3 million of callable contingent interest notes due Aug. 23, 2019 linked to the least performing of the Russell 2000 index, the S&P 500 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 6.15% if each underlying index or fund closes at or above its 75% coupon barrier on review date for that month.
The notes are callable at par plus the contingent coupon on any review date other than the first and final dates.
The payout at maturity will be par unless any underlying component finishes below its 75% trigger, in which case investors will be fully exposed to any losses of the worst performing index or fund.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Smith Barney LLC is a distributor.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
|
| Underliers: | Russell 2000 index, S&P 500 index and iShares MSCI EAFE ETF
|
| Amount: | $2.3 million
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| Maturity: | Aug. 23, 2019
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| Coupon: | 6.15% annualized, payable monthly if each component closes at or above 75% coupon barrier on review date that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless any component finishes below trigger level, in which case 1% loss for each 1% decline of worst performing component
|
| Call option: | At par plus contingent coupon on any review date other than first and final dates
|
| Initial levels: | 1,383.534 for Russell, 2,468.11 for S&P and $66.76 for fund
|
| Coupon barriers: | 1,037.6505 for Russell, 1,851.0825 for S&P and $50.07 for fund; 75% of initial levels
|
| Trigger levels: | 899.2971 for Russell, 1,604.2715 for S&P and $43.394 for fund; 65% of initial levels
|
| Pricing date: | Aug. 16
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| Settlement date: | Aug. 21
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| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Smith Barney LLC as distributor
|
| Fees: | 2%
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| Cusip: | 46647MQ30
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