Published on 6/30/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $9.87 million trigger autocallable contingent yield notes on indexes
By Devika Patel
Knoxville, Tenn., June 30 – JPMorgan Chase Financial Co. LLC priced $9.87 million of trigger autocallable contingent yield notes due July 2, 2020 linked to the MSCI EAFE index and the Russell 2000 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 6.75% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date beginning on Dec. 28, 2017.
The payout at maturity will be par plus the coupon unless either index finishes below the 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | MSCI EAFE and the Russell 2000
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| Amount: | $9,868,020
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| Maturity: | July 2, 2020
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| Coupon: | 6.75%, payable quarterly if each index closes at or above coupon barrier level on observation date
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| Price: | Par of $10
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| Call: | Beginning Dec. 28, 2017, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
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| Payout at maturity: | Par plus the coupon unless index closes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
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| Initial levels: | 1,901.15 for MSCI, 1,425.269 for Russell
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| Coupon barrier levels: | 1,330.81 for MSCI, 997.688 for Russell, 70% of initial levels
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| Downside thresholds: | 1,330.81 for MSCI, 997.688 for Russell, 70% of initial levels
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| Pricing date: | June 28
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| Settlement date: | June 30
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48129G596
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