Published on 11/10/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $740,000 contingent interest autocallables linked to ETF, indexes
By Marisa Wong
Morgantown, W.Va., Nov. 10 – JPMorgan Chase Financial Co. LLC priced $740,000 of autocallable contingent interest notes due May 7, 2019 linked to the least performing of the iShares MSCI Emerging Markets exchange-traded fund, the Euro Stoxx 50 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8.7% if each underlying closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each underlying closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless any underlying finishes below its initial level and any underlying closes below its 70% trigger level on any day during the life of the notes, in which case investors will be fully exposed to the decline of the least performing underlying.
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 assets: | iShares MSCI Emerging Markets ETF, Euro Stoxx 50 index, Russell 2000 index
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| Amount: | $740,000
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| Maturity: | May 7, 2019
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| Coupon: | 8.7% annualized, payable each quarter that each underlying closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any underlying finishes below initial value and any underlying closes below trigger value during life of notes, in which case 1% loss for each 1% decline of worst performing underlying
|
| Call: | At par plus contingent coupon if each underlying closes at or above initial value on any quarterly review date other than final date
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| Initial values: | $46.58 for ETF, 3,688.80 for Euro Stoxx and 1,496.547 for Russell
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| Coupon barriers: | $32.606 for ETF, 2,582.16 for Euro Stoxx and 1,047.5829 for Russell; 70% of initial values
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| Trigger values: | $32.606 for ETF, 2,582.16 for Euro Stoxx and 1,047.5829 for Russell; 70% of initial values
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| Pricing date: | Nov. 2
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| Settlement date: | Nov. 6
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.225%
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| Cusip: | 48129HLE5
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