Published on 6/8/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $42.33 million trigger autocallables on MSCI EM, Stoxx
By Marisa Wong
Morgantown, W.Va., June 8 – JPMorgan Chase Financial Co. LLC priced $42.33 million of trigger autocallable contingent yield notes due May 28, 2027 linked to the lesser performing of the MSCI EAFE index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes pay a contingent coupon at an annual rate of 7.65% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
After one year, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless either index finishes below its 50% downside threshold, in which case investors will be fully exposed to the decline of the lesser-performing index.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantors: | JPMorgan Chase & Co.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | MSCI Emerging Markets, Euro Stoxx 50
|
| Amount: | $42,333,950
|
| Maturity: | May 28, 2027
|
| Coupon: | 7.65%, payable quarterly if indexes close at or above coupon barriers on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case full exposure to decline of lesser-performing index
|
| Call: | Beginning May 29, 2018, automatically at par if indexes close at or above initial levels on any quarterly observation date other than final one
|
| Initial index levels: | 1,017.00 for MSCI EM, 3,579.02 for Euro Stoxx
|
| Coupon barriers: | 711.90 for MSCI EM, 2,505.31 for Euro Stoxx 50; 70% of initial levels
|
| Downside thresholds: | 508.50 for MSCI EM, 1,789.51 for Euro Stoxx; 50% of initial levels
|
| Pricing date: | May 26
|
| Settlement date: | May 31
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 3.5%
|
| Cusip: | 48129F127
|
|
|
© 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.
