Published on 7/22/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $375,000 contingent interest autocallables tied to three indexes
By Marisa Wong
Morgantown, W.Va., July 22 – JPMorgan Chase Financial Co. LLC priced $375,000 of autocallable contingent interest notes due July 25, 2019 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, 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 5.75% if each index closes at or above its 70% interest 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 review date other than the first and final dates.
The payout at maturity will be par unless any index finishes below its 70% trigger level, in which case investors will be fully exposed to any decline in the worst performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Dow Jones industrial average
|
| Amount: | $375,000
|
| Maturity: | July 25, 2019
|
| Coupon: | 5.75% per year, payable each quarter that each underlying index closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any index finishes below trigger value, in which case full exposure to decline of least-performing index
|
| Call: | Callable at par plus contingent coupon on any interest payment date other than first and final ones
|
| Initial levels: | 2,173.02 for S&P 500, 1,209.745 for Russell 2000 and 18,595.03 for Dow
|
| Barrier/trigger levels: | 1,521.114 for the S&P 500, 846.8215 for Russell 2000 and 13,016.521 for Dow; 70% of initial levels
|
| Pricing date: | July 20
|
| Settlement date: | July 25
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 46646EPS5
|
|
|
© 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.
