Published on 2/13/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.34 million contingent interest callable notes tied to three indexes
By Susanna Moon
Chicago, Feb. 13 – JPMorgan Chase Financial Co. LLC priced $1.34 million of callable contingent interest notes due Feb. 14, 2020 linked to the least performing of the S&P 500 index and the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing 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 7.5% if each index closes at or above its coupon barrier, 65% of its initial level, on the review date for that quarter.
The notes are callable at par plus the contingent coupon on any review date other than final date.
The payout at maturity will be par plus the final contingent interest payment unless any index finishes below its 60% trigger level, 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: | Callable contingent interest notes
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| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
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| Amount: | $1,341,000
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| Maturity: | Feb. 14, 2020
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| Issue price: | Par
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| Coupon: | 7.5% annualized, payable quarterly if each index closes at or above 65% coupon barrier on review date for that quarter
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| Payout at maturity: | Par final contingent interest payment unless any index falls below trigger, in which case full exposure to any losses of worst performing index
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| Call option: | At par plus contingent coupon on any interest payment date other than final date
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| Initial levels: | 2,293.08 for S&P, 1,361.061 for Russell, 3,235.71 for Stoxx
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| Coupon barriers: | 1,490.502 for S&P, 884.68965 for Russell, 2,103.2115 for Stoxx; 65% of initial levels
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| Trigger levels: | 1,375.848 for S&P, 816.6366 for Russell, 1,941.426 for Stoxx; 60% of initial levels
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| Pricing date: | Feb. 7
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| Settlement date: | Feb. 14
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.25%
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| Cusip: | 46646QC37
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