Published on 11/22/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $514,000 contingent interest autocallables on index, fund
By Tali Rackner
Norfolk, Va., Nov. 22 – JPMorgan Chase Financial Co. LLC priced $514,000 of autocallable contingent interest notes due Nov. 21, 2019 linked to the lesser performing of the S&P 500 index and the Energy Select Sector SPDR Fund, according to a 424B2 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 6.2% if each asset closes at or above the interest barrier, 60% of the initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each asset closes at or above the initial level on any review date other than the first, second, third and final dates.
The payout at maturity will be par unless either asset finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worse performing asset.
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: | S&P 500, Energy Select Sector SPDR Fund
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| Amount: | $514,000
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| Maturity: | Nov. 21, 2019
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| Coupon: | 6.2% annualized, payable quarterly if each asset closes at or above 60% coupon barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless either asset closes below its 60% trigger level, in which case 1% loss for each 1% decline of worse performing asset
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| Call: | At par plus contingent coupon if both assets close at or above initial share price on any review date other than first, second, third and final dates
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| Initial levels: | 2,181.90 for S&P, $71.13 for Energy Select
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| Interest barrier/trigger levels: | 1,309.14 for S&P, $42.678 for Energy Select; 60% of initial levels
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| Pricing date: | Nov. 18
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| Settlement date: | Nov. 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 46646E6N7
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