Published on 3/27/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.26 million callable contingent interest notes tied to indexes
By Susanna Moon
Chicago, March 27 – JPMorgan Chase Financial Co. LLC priced $1.26 million of callable contingent interest notes due March 31, 2027 linked to the least performing of the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filed 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 9.45% if each index closes at or above its 75% coupon barrier on the review date for that quarter.
The notes may be called at par in whole but not in part on any interest payment date other than first through seventh and final dates.
The payout at maturity will be par unless any index finishes below its 50% trigger level, in which case investors will lose 1% for every 1% decline 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: | $1,264,000
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| Maturity: | March 31, 2027
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| Coupon: | 9.45% annualized, payable quarterly if each index closes at or above 75% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below 50% trigger level, in which case 1% loss for every 1% decline of worst performing index
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| Call: | At par on any interest payment date other than first through seventh and final dates
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| Initial levels: | 2,345.96 for S&P, 1,353.425 for Russell, 3,452.18 for Stoxx
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| Coupon barriers: | 1,759.47 for S&P, 1,015.06875 for Russell, 2,589.135 for Stoxx; 75% of initial levels
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| Trigger levels: | 1,172.98 for S&P, 676.7125 for Russell, 1,726.09 for Stoxx; 50% of initial levels
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| Pricing date: | March 23
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| Settlement date: | March 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 4%
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| Cusip: | 46646QMK8
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