Published on 5/17/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $12.03 million 6% autocallable yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, May 17 – JPMorgan Chase Financial Co. LLC priced $12.03 million of 6% autocallable yield notes due Aug. 20, 2018 linked to the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date.
If the notes are not called, the payout at maturity will be par unless any index finishes below its initial level and any index closes below its 67% trigger level any day during the life of the notes, in which case investors will be fully exposed to the decline of the least-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 autocallable yield notes
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| Underlying indexes: | Euro Stoxx 50, S&P 500 and Russell 2000
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| Amount: | $12,028,000
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| Maturity: | Aug. 20, 2018
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| Coupon: | 6% per year, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless any index finishes below its initial level and closes below 67% trigger level any day during life of notes, in which case 1% loss for each 1% decline of the worst-performing index
|
| Call option: | At par if each index closes at or above its initial level on any quarterly review date
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| Initial index levels: | 3,641.88 for Euro Stoxx, 2,402.32 for S&P and 1,393.923 for Russell
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| Trigger levels: | 2,440.0596 Euro Stoxx, 1,609.5544 for S&P and 933.92841 for Russell; 67% of initial levels
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| Pricing date: | May 15
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| Settlement date: | May 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.475%
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| Cusip: | 46646QRK3
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