Published on 7/3/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $5.62 million callable contingent interest notes tied to three indexes
By Wendy Van Sickle
Columbus, Ohio, July 3 – JPMorgan Chase Financial Co. LLC priced $5.62 milion of callable contingent interest notes due July 9, 2018 linked to the least performing of the S&P 500 Total Return index, the Russell 2000 Total Return index and the Euro Stoxx 50 Net Return index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each index closes at or above its 70% coupon barrier on the review date for that quarter.
The notes are callable at par on any interest payment date other than the final date.
The payout at maturity will be par plus the contingent coupon unless any index has finished below its initial level and ever closes below its 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index.
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: | Callable contingent interest notes
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| Underlying indexes: | S&P 500 Total Return index, the Russell 2000 Total Return index and the Euro Stoxx 50 Net Return index
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| Amount: | $5,621,000
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| Maturity: | July 9, 2018
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| Coupon: | 8%, payable quarterly if each index closes at or above 70% coupon barrier on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below initial level and ever dips below 70% trigger, in which case 1% loss for every 1% decline of worst performing index
|
| Call option: | At par on any interest payment date other than final date
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| Initial levels: | 4,670.959 for S&P, 6,921.916 for Russell and 6,950.02 for Euro Stoxx
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| Trigger levels: | 3,269.6713 for S&P, 4,845.3412 for Russell and 4,865.014 for Euro Stoxx; 70% of initial levels
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| Pricing date: | June 29
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| Settlement date: | July 5
|
| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.4%
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| Cusip: | 46647MUL5
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