Published on 9/21/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.24 million of callable yield notes on indexes, ETF
By Devika Patel
Knoxville, Tenn., Sept. 21 – JPMorgan Chase Financial Co. LLC priced $2.24 million of callable yield notes due Sept. 24, 2018 linked to the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a quarterly coupon at an annualized rate of 5.25%.
The payout at maturity will be par unless any underlying finishes below its 50% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing underlying.
The notes will be callable in whole but not in part at par on any interest payment date other than the first and final dates.
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: | Contingent coupon callable yield notes
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| Underlyings: | S&P 500 index, Russell 2000 index and iShares MSCI EAFE ETF
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| Amount: | $2,235,000
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| Maturity: | Sept. 24, 2018
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| Coupon: | 5.25%, payable quarterly
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| Price: | Par
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| Payout at maturity: | If any underlying falls below trigger level, par plus return of the worst performing underlying; otherwise, par
|
| Call option: | In whole but not in part at par plus coupon on any interest payment date other than the first and final dates
|
| Initial levels: | 2,139.16 for S&P, 1,224.779 for Russell and $57.49 for MSCI EAFE
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| Barrier levels: | 1,069.58 for S&P, 612.3895 for Russell and $28.745 for MSCI EAFE; 50% of initial levels
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| Pricing date: | Sept. 16
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| Settlement date: | Sept. 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 46646EC91
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