Published on 10/18/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $5.13 million contingent yield trigger autocallables tied to Nasdaq, Russell
By Susanna Moon
Chicago, Oct. 18 – JPMorgan Chase Financial Co. LLC priced $5.13 million of trigger autocallable contingent yield notes due Oct. 19, 2026 linked to the lesser performing of the Nasdaq-100 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 will pay a contingent quarterly coupon at an annual rate of 7.5% if each index closes at or above its 70% coupon 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 after one year.
The payout at maturity will be par plus the contingent coupon unless either index finishes below the 50% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Nasdaq-100 and Russell 2000
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| Amount: | $5,129,970
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| Maturity: | Oct. 19, 2026
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| Contingent coupon: | 7.5%, payable quarterly if indexes close at or above 70% coupon barrier on quarterly observation date
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| Price: | Par of $10
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| Payout at maturity: | Par unless either index closes below 50% downside threshold level, in which case will lose 1% for each 1% decline of the worse performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date beginning Oct. 16, 2017
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| Initial levels: | 4,808.485 for Nasdaq, 1,212.408 for Russell
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| Coupon barriers: | 3,365.94 for Nasdaq, 848.686 for Russell; 70% of initial levels
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| Downside thresholds: | 2,404.243 for Nasdaq, 606.204 for Russell; 50% of initial levels
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| Pricing date: | Oct. 14
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| Settlement date: | Oct. 19
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 3.5%
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| Cusip: | 48128P605
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