Published on 8/24/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.12 million of autocallable yield notes on S&P, Russell, Stoxx
By Devika Patel
Knoxville, Tenn., Aug. 24 – JPMorgan Chase Financial Co. LLC priced $2.12 million of autocallable yield notes due Nov. 28, 2017 linked to the worst performing of 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 will be guaranteed by JPMorgan Chase & Co.
The interest rate will be 6% per year and interest will be payable monthly.
Beginning Nov. 22, 2016, the notes will be called at par if each index closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless any index closes below its trigger level, 65% of its initial level, on any day during the life of the notes and the return of the least-performing index is negative, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
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, Russell 2000 and Euro Stoxx 50
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| Amount: | $2.12 million
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| Maturity: | Nov. 28, 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 falls below trigger level and return of least-performing index is negative, in which case 1% loss for every 1% decline of worst performing index
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| Call: | At par if each index closes at or above the initial level on any quarterly observation date beginning Nov. 22, 2016
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| Initial levels: | 2,182.64 for S&P 500, 1,239.744 for Russell, 2,960.37 for Stoxx
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| Trigger levels: | 1,429.6292 for S&P 500, 812.03232 for Russell, 1,939.04235 for Stoxx, 65% of initial levels
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| Pricing date: | Aug. 22
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| Settlement date: | Aug. 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.475%
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| Cusip: | 46646EQT2
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