Published on 7/19/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $921,000 contingent interest autocallables linked to three indexes
By Marisa Wong
Morgantown, W.Va., July 19 – JPMorgan Chase Financial Co. LLC priced $921,000 of autocallable contingent interest notes due July 2, 2020 linked to the least 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 will pay a contingent coupon at an annual rate of 9% if each index closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the first and final dates.
The payout at maturity will be par unless any index finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index, S&P 500 index
|
| Amount: | $921,000
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| Maturity: | July 2, 2020
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| Coupon: | 9% annualized, payable each quarter that each underlying index closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless any index falls below trigger level, in which case 1% loss for each 1% decline of worst performer
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than the first and final dates
|
| Initial levels: | 3,471.33 for Euro Stoxx, 1,416.199 for Russell and 2,419.70 for S&P
|
| Coupon barriers: | 2,429.931 for Euro Stoxx, 991.3393 for Russell and 1,693.79 for S&P; 70% of initial levels
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| Trigger levels: | 2,429.931 for Euro Stoxx, 991.3393 for Russell and 1,693.79 for S&P; 70% of initial levels
|
| Pricing date: | June 29
|
| Settlement date: | July 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.60033%
|
| Cusip: | 46647MTJ2
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