Published on 10/5/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $4.59 million 8% contingent yield trigger autocalls tied to indexes
By Susanna Moon
Chicago, Oct. 5 – JPMorgan Chase Financial Co. LLC priced $4.59 million of trigger autocallable contingent yield notes due Sept. 30, 2021 linked to the least performing of the FTSE 100 index, the Nasdaq-100 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 annualized rate of 8% if each index closes at or above its 72.5% coupon barrier on the determination date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly determination date after one year.
The payout at maturity will be par plus the final coupon unless either index finishes below its 72.5% downside threshold, in which case investors will be fully exposed to the decline of the worst performing index.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
The notes are guaranteed by JPMorgan Chase & Co.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | FTSE 100 index, Nasdaq-100 index and Euro Stoxx 50
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| Amount: | $4,586,500
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| Maturity: | Sept. 30, 2021
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| Coupon: | 8% per year, payable quarterly if each index closes at or above 72.5% coupon barrier on determination date that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above 72.5% downside threshold, par; otherwise, full exposure to decline of worst performing index
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| Call: | At par if each index closes at or above its initial level on any quarterly observation date after one year
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| Initial levels: | 7,313.51 for FTSE, 5,937.791 for Nasdaq, 3,555.17 for Stoxx
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| Downside thresholds: | 5,302.29 for FTSE, 4,304.898 for Nasdaq, 2,577.50 for Stoxx; 72.5% of initial levels
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| Pricing date: | Sept. 27
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| Settlement date: | Sept. 29
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2.25%
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| Cusip: | 48129J343
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