Published on 7/21/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.49 million contingent coupon callable notes tied to three indexes
By Susanna Moon
Chicago, July 21 – JPMorgan Chase Financial Co. LLC priced $3.49 million of contingent coupon callable yield notes due July 24, 2018 linked to the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a contingent quarterly coupon at an annual rate of 9.75% if each index closes above its 70% barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date other than the final date.
If the notes are not called, the payout at maturity will be par unless any index finishes below its barrier, in which case investors will be fully exposed to any losses of the worst performing index.
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: | Contingent coupon callable yield notes
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| Underlying indexes: | S&P 500, Euro Stoxx 50 and Russell 2000
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| Amount: | $3,485,000
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| Maturity: | July 24, 2018
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| Coupon: | 9.75%, payable quarterly if each index closes above barrier on observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below barrier, in which case full exposure to any losses of the worst performing index
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| Call option: | At par on any interest payment date other than the final date
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| Initial levels: | 2,163.78 for S&P, 2,931.10 for Stoxx and 1,200.445 for Russell
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| Barrier levels: | 1,514.646 for S&P, 2,051.77 for Stoxx and 840.3115 for Russell; 70% of initial levels
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| Pricing date: | July 19
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| Settlement date: | July 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 46646EQB1
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