Published on 1/11/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.97 million contingent interest autocallables tied to Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, Jan. 11 – JPMorgan Chase Financial Co. LLC priced $3.97 million of autocallable contingent interest notes due Jan. 12, 2027 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9% if each index closes at or above its barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the final one.
The payout at maturity will be par unless either index finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Euro Stoxx 50, Russell 2000
|
| Amount: | $3,967,000
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| Maturity: | Jan. 12, 2027
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| Coupon: | 9% per year, payable each quarter that each index closes at or above its barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below trigger level, in which case exposure to decline of lesser performing index
|
| Call option: | At par plus the contingent coupon if each index closes at or above its initial level on any review date other than the final one
|
| Initial index levels: | 3,308.97 for Stoxx and 1,357.491 for Russell
|
| Barrier levels: | 2,316.279 for Stoxx and 950.2437 for Russell, 70% of initial level
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| Trigger levels: | 1,654.485 for Stoxx and 678.7455 for Russell, 50% of initial level
|
| Pricing date: | Jan. 9
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| Settlement date: | Jan. 12
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.85%
|
| Cusip: | 46646QTP0
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