Published on 1/31/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $620,000 contingent interest autocallables on Energy Select fund, S&P
By Tali Rackner
Norfolk, Va., Jan. 31 – JPMorgan Chase Financial Co. LLC priced $620,000 of autocallable contingent interest notes due Jan. 31, 2020 linked to the lesser performing of the Energy Select Sector SPDR Fund and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 5.6% if each underlying asset closes at or above its coupon barrier, 60% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any review date other than the first, second, third and final dates.
The payout at maturity will be par plus the final contingent interest payment unless either asset finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the lesser-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: | Autocallable contingent interest notes
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| Underlying assets: | Energy Select Sector SPDR Fund, S&P 500 index
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| Amount: | $620,000
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| Maturity: | Jan. 31, 2020
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| Issue price: | Par
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| Coupon: | 5.6% annualized, payable quarterly if each underlying asset closes at or above 60% coupon barrier on review date for that quarter
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| Payout at maturity: | Par final contingent interest payment unless either asset falls below 60% trigger, in which case full exposure to any losses of lesser-performing asset
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| Call: | At par plus contingent coupon if each asset closes at or above initial level on any review date other than the first, second, third and final dates
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| Initial levels: | $75.01 for Energy Select, 2,296.68 for S&P
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| Barrier/trigger levels: | $45.006 for Energy Select, 1,378.008 for S&P; 60% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 46646QJZ9
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