Published on 9/11/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $607,000 autocallable contingent interest notes tied to indexes, ETF
By Devika Patel
Knoxville, Tenn., Sept. 11 – JPMorgan Chase Financial Co. LLC priced $607,000 of autocallable contingent interest notes due Sept. 2, 2022 linked to the least performing of the Russell 2000 index, the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, 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 monthly coupon at an annual rate of 7.25% if each underlying closes at or above its interest barrier level, 66% of its initial level, on any interest review date.
The notes will be called at par plus the contingent coupon if each underlying closes at or above its initial level on any quarterly autocall review date beginning on Aug. 30, 2018.
The payout at maturity will be par plus the final coupon unless any underlying finishes below its 66% trigger level, in which case investors will lose 1% for each 1% decline of the worst-performing underlying from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlyings: | Russell 2000 index, Euro Stoxx 50 index and iShares MSCI Emerging Markets ETF
|
| Amount: | $607,000
|
| Maturity: | Sept. 2, 2022
|
| Coupon: | 7.25% annualized, payable monthly if each underlying closes at or above interest barrier level on interest review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any underlying finishes below trigger level, in which case 1% loss for each 1% decline of worst-performing underlying from initial level
|
| Call: | At par plus contingent coupon if each underlying closes at or above initial level on any quarterly autocall review date beginning on Aug. 30, 2018
|
| Initial levels: | 1,391.324 for Russell, 3,403.71 for Stoxx, $44.76 for fund
|
| Interest barriers: | 918.27384 for Russell, 2,246.4486 for Stoxx, $29.5416 for fund; 66% of initial levels
|
| Trigger levels: | 918.27384 for Russell, 2,246.4486 for Stoxx, $29.5416 for fund; 66% of initial levels
|
| Pricing date: | Aug. 30
|
| Settlement date: | Sept. 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4.125%
|
| Cusip: | 46647MV34
|
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