Published on 5/10/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.23 million callable contingent interest notes linked to indexes
By Wendy Van Sickle
Columbus, Ohio, May 10 – JPMorgan Chase Financial Co. LLC priced $2.23 million of callable contingent interest notes due May 14, 2018 linked to the least performing of the Euro Stoxx 50 Net Return index, the Russell 2000 Total Return index and the S&P 500 Total Return 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 7.75% if each index closes at or above its trigger value, 70% of its initial level, on the review date for during that quarter.
The notes are callable at par on any interest payment date other than the final interest payment date.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its initial level and any index has closed below its trigger value any day during the life of the notes, in which case investors will be fully exposed to the loss of the least performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | Euro Stoxx 50 Net Return, Russell 2000 Total Return and S&P 500 Total Return
|
| Amount: | $2,227,000
|
| Maturity: | May 14, 2018
|
| Contingent coupon: | 7.75% per year, payable quarterly if each index closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below initial level and any index closes below trigger value during life of notes, in which full exposure to loss of least-performing index
|
| Call: | Callable at par on any interest payment date other than final one
|
| Initial index levels: | 4,615.091 for S&P 500, 6,810.272 for Russell 2000 and 7,257.27 for Euro Stoxx 50
|
| Trigger values: | 3,230.5637 for S&P 500, 4,767.1904 for Russell 2000 and 5,080.089 for Euro Stoxx 50; 70% of initial levels
|
| Pricing date: | May 5
|
| Settlement date: | May 10
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.4%
|
| Cusip: | 46647MBZ5
|
|
|
© 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.
