Published on 6/1/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.68 million contingent coupon autocallable yield notes tied to indexes
By Wendy Van Sickle
Columbus, Ohio, June 1 – JPMorgan Chase Financial Co. LLC priced $4.68 million of contingent coupon autocallable yield notes due June 1, 2018 linked to the S&P 500, Euro Stoxx 50 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 pay a contingent quarterly coupon at an annual rate of 6.9% if each index closes above its 70% barrier 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.
If the notes are not called, the payout at maturity will be par unless any index finishes below its barrier, in which case investors will be fully exposed to the decline of the least-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying indexes: | S&P 500, Euro Stoxx 50 and Russell 2000
|
| Amount: | $4,677,000
|
| Maturity: | June 1, 2018
|
| Coupon: | 6.9%, payable quarterly if each index closes above barrier on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below barrier, in which case full exposure to decline of least-performing index
|
| Call: | Automatically at par if each index closes at or above initial level on any observation date
|
| Initial index levels: | 2,090.10 for S&P 500, 3,071.21 for Euro Stoxx 50 and 1,139.754 for Russell 2000
|
| Trigger values: | 1,463.07 for S&P 500, 2,149.847 for Euro Stoxx 50 and 797.8278 for Russell 2000; 70% of initial levels
|
| Pricing date: | May 26
|
| Settlement date: | June 1
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 46646EDS8
|
|
|
© 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.
