Published on 11/10/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.3 million 6% contingent interest autocalls on indexes
By Susanna Moon
Chicago, Nov. 10 – JPMorgan Chase Financial Co. LLC priced $2.3 million of autocallable contingent interest notes due May 6, 2021 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, 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% if each index closes at or above its 68.5% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date.
The payout at maturity will be par unless any index finishes below its 68.5% trigger level, 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: | Autocallable contingent interest notes
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Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
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Amount: | $2,296,000
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Maturity: | May 6, 2021
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Coupon: | 6% annualized, payable monthly if each index closes at or above 68.5% coupon barrier on review date for that month
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless any index finishes below its trigger, in which case 1% loss for each 1% decline of worst performing index
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Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date beginning May 3, 2018
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Initial index levels: | 2,587.84 for S&P, 1,494.91 for Russell and 3,689.96 for Stoxx
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Trigger levels: | 1,772.6704 for S&P, 1,024.01335 for Russell and 2,527.6226 for Stoxx; 68.5% of initial levels
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Pricing date: | Nov. 3
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Settlement date: | Nov. 8
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.9%
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Cusip: | 48129HHS9
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