Published on 9/5/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.09 million contingent interest autocallables tied to three indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 5 – JPMorgan Chase Financial Co. LLC priced $1.09 million of autocallable contingent interest notes due Sept. 2, 2027 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each index closes at or above its 70% coupon barrier on review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date after one year.
The payout at maturity will be par unless any index finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are guaranteed by JPMorgan Chase & Co.
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 contingent interest notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index and Euro Stoxx 50 index
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| Amount: | $1,094,000
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| Maturity: | Sept. 2, 2027
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| Coupon: | 7% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any index finishes below 50% trigger, in which case 1% loss for each 1% decline of worst performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date after one year
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| Initial levels: | 1,382.229 for Russell, 2,444.24 for S&P and 3,421.03 for Stoxx
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| Coupon barriers: | 967.5603 for Russell, 1,710.968 for S&P and 2,394.721 for Stoxx; 70% of initial levels
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| Triggers: | 691.1145 for Russell, 1,222.12 for S&P and 1,710.515 for Stoxx; 50% of initial levels
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| Pricing date: | Aug. 28
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| Settlement date: | Aug. 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 4.25%
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| Cusip: | 46647M3A9
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