Published on 6/24/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.11 million 6% autocallable yield notes on S&P, Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, June 24 – JPMorgan Chase Financial Co. LLC priced $2.11 million of 6% autocallable yield notes due Sept. 26, 2017 linked to the least performing of the S&P 500 index, the 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.
Interest is payable monthly.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless any index closes below its trigger level, 60% of its initial level, during the life of the notes and any index finishes below its initial level, in which case investors will be fully exposed any losses of the worst performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable yield notes
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| Underlying indexes: | S&P 500, Euro Stoxx 50 and Russell 2000
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| Amount: | $2,113,000
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| Maturity: | Sept. 26, 2017
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| Coupon: | 6%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any index ever closes below 60% trigger level and return of worst performing index is negative, in which case full exposure to any losses of worst performing index
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| Call: | At par if each index closes at or above initial level on any quarterly review date other than the final date
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| Initial levels: | 2,088.90 for S&P 500, 2,967.34 for Euro Stoxx and 1,153.871 for Russell
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| Trigger levels: | 1,253.34 for S&P 500, 1,780.404 for Euro Stoxx and 692.3226 for Russell; 60% of initial levels
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| Pricing date: | June 21
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| Settlement date: | June 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.475%
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| Cusip: | 46646EDR0
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