Published on 10/16/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.6 million contingent interest autocallables linked to ETFs, IBEX 35
By Angela McDaniels
Tacoma, Wash., Oct. 16 – JPMorgan Chase Financial Co. LLC priced $1.6 million of autocallable contingent interest notes due Oct. 16, 2020 linked to the least performing of the IBEX 35 index, the iShares Russell 2000 exchange-traded fund and the SPDR Euro Stoxx 50 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Beginning one year after issuance, if each underlier closes at or above its trigger value, 60% of its initial level, on a semiannual review date, the notes will pay a contingent coupon at the rate of 6.6% per year plus any previously unpaid contingent interest payments for any prior review dates.
If each underlier closes at or above its initial level on Oct. 12, 2018, April 12, 2019, Oct. 15, 2019 or April 13, 2020, the notes will be automatically called at par plus the contingent coupon and any previously unpaid contingent interest payments.
If the notes have not been called, the payout at maturity will be par plus interest plus any previously unpaid interest unless any underlier finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing underlier finishes below its initial level.
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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| Underliers: | IBEX 35 index, iShares Russell 2000 ETF and SPDR Euro Stoxx 50 ETF
|
| Amount: | $1.6 million
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| Maturity: | Oct. 16, 2020
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| Coupon: | Beginning one year after issuance, if each underlier closes at or above trigger value on semiannual review date, notes will pay contingent coupon at rate of 6.6% per year plus any previously unpaid contingent interest payments for any prior review dates
|
| Price: | Par
|
| Payout at maturity: | Par plus interest plus any previously unpaid interest unless any underlier finishes below trigger value, in which case 1% loss for every 1% that least-performing underlier finishes below initial level
|
| Call: | If each underlier closes at or above initial level on Oct. 12, 2018, April 12, 2019, Oct. 15, 2019 or April 13, 2020, notes will be automatically called at par plus contingent coupon and any previously unpaid contingent interest payments
|
| Initial levels: | 10,275.90 for index, $149.64 for Russell ETF and $41.48 for Euro Stoxx 50 ETF
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| Trigger values: | 6,165.54 for index, $89.784 for Russell ETF and $24.888 for Euro Stoxx 50 ETF; 60% of initial share prices
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| Pricing date: | Oct. 12
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| Settlement date: | Oct. 17
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48129HGP6
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