Published on 5/17/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $4.28 million trigger autocallable contingent yield notes on indexes
By Marisa Wong
Morgantown, W.Va., May 17 – JPMorgan Chase Financial Co. LLC priced $4.28 million of trigger autocallable contingent yield notes due May 17, 2019 linked to the lesser performing of the MSCI EAFE index 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 8.1% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date beginning Nov. 14.
The payout at maturity will be par unless either index finishes below the 70% downside threshold level, in which case investors will be fully exposed to any losses of the worse performing index.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | MSCI EAFE and S&P 500
|
| Amount: | $4,284,430
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| Maturity: | May 17, 2019
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| Coupon: | 8.1%, payable quarterly if each index closes at or above coupon barrier on quarterly observation date
|
| Price: | Par of $10
|
| Call: | Beginning Nov. 14, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case full exposure to decline of lesser performing index
|
| Initial levels: | 1,631.71 for MSCI EAFE, 2,046.61 for S&P
|
| Coupon barrier: | 1,142.20 for MSCI EAFE, 1,432.63 for S&P; 70% of initial levels
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| Downside threshold: | 1,142.20 for MSCI EAFE, 1,432.63 for S&P; 70% of initial levels
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| Pricing date: | May 13
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| Settlement date: | May 18
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 46646W607
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