Published on 12/22/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.25 million contingent coupon callable yield notes on indexes, fund
By Wendy Van Sickle
Columbus, Ohio, Dec. 22 – JPMorgan Chase Financial Co. LLC priced $5.25 million of contingent coupon callable yield notes due Dec. 26, 2019 linked to the least performing of the S&P 500 index, the FTSE 100 index and the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes pay a contingent quarterly coupon at an annual rate of 7.85% if each asset closes above its 75% coupon barrier on the observation date for that quarter.
The notes may be called on any contingent interest payment date other than the first, second, third and final dates.
If the notes are not called, the payout at maturity will be par any asset finishes below its 75% trigger value, in which case investors will be fully exposed to the decline of the least performing asset.
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: | Contingent coupon callable yield notes
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| Underlying assets: | S&P 500 index, FTSE 100 index and Financial Select Sector SPDR fund Amount: | $5.25 million
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| Maturity: | Dec. 26, 2019
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| Coupon: | 7.85% per year, payable quarterly if each asset closes at or above the coupon barrier on quarterly determination date
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| Price: | Par of $10
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| Payout at maturity: | If final level of each asset is greater than or equal to downside threshold, par plus final contingent coupon; otherwise, 1% loss for every 1% that final level of least performing asset is less than initial level
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| Call: | Callable on any interest payment date other than first, second, third and final dates
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| Initial levels: | 7,537.01 for FTSE, 2,690.16 for S&P, $28.06 for fund
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| Coupon barrier/triggers: | 5,652.7575 for FTSE, 2,017.62 for S&P, $21.045 for fund, 75% of initial levels
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| Pricing date: | Dec. 18
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| Settlement date: | Dec. 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48129HWB9
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