Published on 12/22/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.75 million 8.7% contingent interest autocalls tied to indexes, fund
By Susanna Moon
Chicago, Dec. 22 – JPMorgan Chase Financial Co. LLC priced $1.75 million of autocallable contingent interest notes due March 13, 2019 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.7% if each underlying component closes at or above its 65% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each component closes at or above its initial level on any review date other than the first, second, third, fourth, fifth and final dates.
The payout at maturity will be par unless any component finishes below its 55% trigger level, in which case investors will be fully exposed to any losses of the worst performing component.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying assets: | Nasdaq-100 index, Russell 2000 index and iShares MSCI Emerging Markets ETF
|
| Amount: | $1.75 million
|
| Maturity: | March 13, 2019
|
| Coupon: | 8.7% annualized, payable monthly if each component closes at or above 75% coupon barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless any component finishes below its 75% trigger, in which case 1% loss for each 1% decline of worst performing component
|
| Call: | At par plus contingent coupon if each component closes at or above initial level on any quarterly review date other first, second, third, fourth, fifth and final dates
|
| Strike levels: | 6,316.278 for Nasdaq, 1,520.469 for Russell and $45.41 for fund
|
| Coupon barriers: | 4,105.5807 for Nasdaq, 988.30485 for Russell and $29.5165 for fund; 65% of strike levels
|
| Trigger levels: | 3,473.9529 for Nasdaq, 836.25795 for Russell and $24.9755 for fund; 55% of strike levels
|
| Strike date: | Dec. 7
|
| Pricing date: | Dec. 8
|
| Settlement date: | Dec. 12
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.5%
|
| Cusip: | 48129HVC8
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
