Published on 7/20/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.6 million contingent interest autocallables linked to three indexes
By Wendy Van Sickle
Columbus, Ohio, July 20 – JPMorgan Chase Financial Co. LLC priced $1.6 million of autocallable contingent interest notes due July 23, 2020 linked to the least performing of the CAC 40 index, the FTSE 100 index and the IBEX 35 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each six months the notes will pay a contingent coupon at an annual rate of 6% if each index closes at or above its 60% coupon barrier on the review date for that period.
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 other than the first and final dates.
The payout at maturity will be par unless any index finishes below its 60% trigger level, in which case investors will lose 1% for each 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: | Autocallable contingent interest notes
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| Underlying indexes: | CAC 40 index, FTSE 100 index, IBEX 35 index
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| Amount: | $1.6 million
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| Maturity: | July 23, 2020
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| Coupon: | 6% annualized, payable each six months that each underlying index closes at or above coupon barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any index falls below trigger level, in which case 1% loss for each 1% decline of worst performer
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than the first and final dates
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| Initial levels: | 5,173.27 for CAC 40, 7,390.22 for FTSE 100 and 10,524.50 for IBEX 35
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| Coupon barriers/triggers: | 3,103.962 for CAC 40, 4,434.132 for FTSE 100 and 6,314.70 for IBEX 35; 60% of initial levels
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| Pricing date: | July 18
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| Settlement date: | July 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.25%
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| Cusip: | 46647MYL1
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