Published on 4/27/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $6.79 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, April 27 – JPMorgan Chase Financial Co. LLC priced $6.79 million of contingent coupon callable yield notes due May 4, 2020 linked to the FTSE 100 index, the Euro Stoxx 50 index and the Russell 2000 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 the rate of 8.5% per year if each index closes at or above its barrier level, 65% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless either index finishes below its 65% trigger level, in which case investors will lose 1% for each 1% decline of the worse-performing index.
The notes are callable in whole but not in part at par on any interest payment date other than the final date.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | FTSE 100, Euro Stoxx 50, Russell 2000
|
| Amount: | $6,787,000
|
| Maturity: | May 4, 2020
|
| Coupon: | 8.5%, payable quarterly if each index closes at or above barrier level on observation date for quarter
|
| Price: | Par
|
| Payout at maturity: | If either index finishes below trigger level, par plus return of worse-performing index; otherwise, par
|
| Call option: | In whole but not in part at par plus coupon on any interest payment date other than final date
|
| Initial levels: | 3,583.16 for Stoxx, 7,275.64 for FTSE and 1,411.077 for Russell
|
| Barrier/trigger levels: | 2,329.054 for Stoxx, 4,729.166 for FTSE and 917.2005 for Russell; 65% of initial levels
|
| Pricing date: | April 25
|
| Settlement date: | April 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 46646QPT6
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
