Published on 9/28/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $10 million jump autocallables linked to CAC 40, FTSE MIB, IBEX 35
By Angela McDaniels
Tacoma, Wash., Sept. 28 – JPMorgan Chase Financial Co. LLC priced $10 million of 0% jump securities with autocallable feature due Oct. 1, 2020 linked to the worst performing of the CAC 40 index, the FTSE MIB 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.
The notes will be automatically called at par of $10 plus a call premium of 10% per year if each index closes at or above its initial level on either annual call observation date.
If each index finishes at or above its downside threshold level, 70% of its initial level, the payout at maturity will be par plus 30%. If the final level of any index is less than its downside threshold level, investors will lose 1% for every 1% that the worst-performing index declines from its initial level.
J.P. Morgan Securities LLC is the underwriter. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | CAC 40, FTSE MIB and IBEX 35
|
| Amount: | $10 million
|
| Maturity: | Oct. 1, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above downside threshold level, par plus 30%; if final level of any index is less than downside threshold level, 1% loss for every 1% that worst-performing index declines from initial level
|
| Call: | Automatically at par plus call premium of 10% per year if each index closes at or above initial level on Oct. 3, 2018 or Sept. 26, 2019
|
| Initial index levels: | 5,268.76 for CAC 40, 22,430.65 for FTSE MIB and 10,189.60 for IBEX 35
|
| Downside thresholds: | 3,688.132 for CAC 40, 15,701.455 for FTSE MIB and 7,132.72 for IBEX 35; 70% of initial levels
|
| Pricing date: | Sept. 26
|
| Settlement date: | Sept. 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48129J418
|
© 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.
