Published on 12/21/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $358,000 contingent interest autocallables linked to Bristol-Myers
By Susanna Moon
Chicago, Dec. 21 – JPMorgan Chase Financial Co. LLC priced $358,000 of autocallable contingent interest notes due March 21, 2018 linked to the common stock of Bristol-Myers Squibb Co., 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 8% if Bristol-Myers stock closes at or above the 70% trigger level on a review date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close 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 plus the contingent coupon unless Bristol-Myers shares finish below the 70% trigger level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the underwriter.
| 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 stock: | Bristol-Myers Squibb Co. (NYSE: BMY)
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| Amount: | $358,000
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| Maturity: | March 21, 2018
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| Coupon: | 8%, payable quarterly if stock closes at or above trigger price on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if Bristol-Myers shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | At par plus contingent coupon if Bristol-Myers shares close at or above initial price on March 16, 2017, June 16, 2017, Sept. 18, 2017, Dec. 18, 2017 or March 16, 2018
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| Initial share price: | $58.62
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| Trigger price: | $41.034, 70% of initial price
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| Pricing date: | Dec. 16
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| Settlement date: | Dec. 21
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 46646QDQ5
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