Published on 7/5/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $11.79 million contingent income callable notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, July 5 – JPMorgan Chase Financial Co. LLC priced $11.79 million contingent income callable securities due July 6, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if the index closes at or above its coupon barrier, 75% of its initial level, on the observation date for that quarter.
The notes are callable at par on any quarterly observation date other than the first, second, third and final dates.
The payout at maturity will be par unless the index finishes below the 60% trigger level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent with distribution through Morgan Stanley Wealth Management.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income callable securities
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| Underlying index: | S&P 500
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| Amount: | $11,793,000
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| Maturity: | July 6, 2026
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| Coupon: | 7% annual rate, payable quarterly for each quarter that index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus coupon if index finishes at or above 75% barrier level; par if index finishes below barrier but at or above 60% downside threshold level; otherwise, full exposure to losses
|
| Call option: | At par on any contingent payment date other than the first, second, third and final dates
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| Initial level: | 2,098.86
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| Coupon barrier level: | 1,574.145, 75% of initial level
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| Downside threshold level: 1,259.316, 60% of initial level
|
| Pricing date: | June 30
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| Settlement date: | July 6
|
| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Wealth Management handling distribution
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| Fees: | 3%
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| Cusip: | 46646EGZ9
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