Published on 8/1/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $6.06 million contingent income autocallables linked to indexes
By Angela McDaniels
Tacoma, Wash., Aug. 1 – JPMorgan Chase Financial Co. LLC priced $6.06 million of contingent income autocallable securities due Aug. 1, 2019 linked to the worst performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes pay a contingent coupon at an annual rate of 5.6% if each index closes at or above its coupon barrier level, 70% of its initial level, on the determination date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly determination date other than the final one.
The payout at maturity will be par unless the final level of any index is less than its downside threshold level, 65% of its initial level, in which case investors will be fully exposed to the decline of the worst-performing index.
J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Smith Barney LLC.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
|
| Amount: | $6.06 million
|
| Maturity: | Aug. 1, 2019
|
| Coupon: | Each quarter, notes pay contingent coupon at an annual rate of 5.6% if each index closes at or above coupon barrier level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold level, par; if final level of any index is less than downside threshold level, full exposure to decline of worst-performing index
|
| Call: | Automatically at par if each index closes at or above its initial level on any quarterly determination date other than final one
|
| Initial index levels: | 1,429.260 for Russell 2000, 2,472.10 for S&P 500 and 3,467.73 for Euro Stoxx 50
|
| Coupon barriers: | 1,000.482 for Russell 2000, 1,730.47 for S&P 500 and 2,427.411 for Euro Stoxx 50, or 70% of initial levels
|
| Downside thresholds: | 929.019 for Russell 2000,1,606.865 for S&P 500 and 2,254.0245 for Euro Stoxx 50, or 65% of initial levels
|
| Pricing date: | July 28
|
| Settlement date: | Aug. 2
|
| Agent: | J.P. Morgan Securities LLC
|
| Distribution: | Morgan Stanley Smith Barney LLC
|
| Fees: | 1.75%
|
| Cusip: | 46647MYR8
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
