Published on 8/8/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.28 million autocallable yield notes tied to indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 8 – JPMorgan Chase Financial Co. LLC priced $5.28 million of autocallable yield notes due Aug. 2, 2018 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The interest rate will be 7.1% per year, and interest will be payable monthly.
The notes will be called at par if each index closes at or above its initial level on Jan. 29, 2018 or April 30, 2018.
The payout at maturity will be par unless any index closes below its trigger level, 70% of its initial level, on any day during the life of the notes and the return of the least-performing index is negative, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
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 yield notes
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| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
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| Amount: | $5,279,000
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| Maturity: | Aug. 2, 2018
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| Coupon: | 7.1%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless either index falls below trigger level and return of least-performing index is negative, in which case 1% loss for every 1% decline of worse performing index from initial level
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| Call: | At par if each index closes at or above the initial level on Jan. 29, 2018 or April 30, 2018
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| Initial levels: | 2,472.10 for S&P 500, 1,429.26 for Russell, 3,467.73 for Stoxx
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| Trigger levels: | 1,730.47 for S&P 500, 1,000.482 for Russell, 2,427.411 for Stoxx, 70% of initial levels
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| Pricing date: | July 28
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| Settlement date: | Aug. 2
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 46647MYN7
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