Published on 5/9/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1 million contingent coupon callable yield notes on indexes
By Devika Patel
Knoxville, Tenn., May 9 – JPMorgan Chase Financial Co. LLC priced $1 million of contingent coupon callable yield notes due April 5, 2017 linked to the S&P 500 index, the Russell 2000 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.
The notes will pay a contingent quarterly coupon at the rate of 10.5% per year if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any index finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worst-performing index.
The notes are callable in whole but not in part at par on any interest payment date other than the final date.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
|
| Amount: | $1 million
|
| Maturity: | April 5, 2017
|
| Coupon: | 10.5%, payable quarterly if each index closes at or above barrier level on observation date for quarter
|
| Price: | Par
|
| Payout at maturity: | If any index finishes below trigger level, par plus return of worst-performing index; otherwise, par
|
| Call option: | In whole but not in part at par plus coupon on any interest payment date other than final date
|
| Initial levels: | 2,050.63 for S&P, 1,107.948 for Russell and 2,940.35 for Euro Stoxx
|
| Barrier levels: | 1,435.441 for S&P, 775.5636 for Russell and 2,058.245 for Euro Stoxx; 70% of initial levels
|
| Pricing date: | May 5
|
| Settlement date: | May 10
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.91%
|
| Cusip: | 46646ECJ9
|
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