Published on 2/15/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.86 million contingent yield trigger autocallables on indexes
By Susanna Moon
Chicago, Feb. 15 – JPMorgan Chase Financial Co. LLC priced $4.86 million of trigger autocallable contingent yield notes due Feb. 14, 2020 linked to worse performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 9.5% if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par plus the contingent coupon, unless either index finishes below the 75% downside threshold level, in which case investors will lose 1% for each 1% decline of the worse performing index.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Euro Stoxx 50, Russell 2000
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| Amount: | $4,858,500
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| Maturity: | Feb. 14, 2020
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| Contingent coupon: | 9.5%, payable quarterly if each index closes at or above 75% coupon barrier on quarterly observation date
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| Price: | Par of $10
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| Call: | At par if each index closes at or above its initial level on any quarterly observation date beginning Feb. 12, 2018
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| Payout at maturity: | Par unless either index finishes below downside threshold, in which case full exposure to any losses of the worse performing index
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| Initial levels: | 3,270.83 for Stoxx, 1,388.844 for Russell
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| Downside thresholds: | 2,453.12 for Stoxx, 1,041.633 for Russell; 75% of initial levels
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 16
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48129F879
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