Published on 12/9/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.8 million trigger callable contingent yield notes tied to three indexes
By Susanna Moon
Chicago, Dec. 9 – JPMorgan Chase Financial Co. LLC priced $1.8 million of trigger callable contingent yield notes due Dec. 5, 2018 with daily coupon observation linked to 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 are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 14.25% if each index closes at or above its coupon barrier level, 75% of its initial level, on each day during that quarter.
The notes are callable at par of $10 on any quarterly observation date other than the final date.
The payout at maturity will be par unless either index finishes below the 75% trigger level, in which case investors will be exposed to any losses 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 callable contingent yield notes with daily coupon observation
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| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
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| Amount: | $1,801,500
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| Maturity: | Dec. 5, 2018
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| Coupon: | 14.25%, payable quarterly if each index closes at or above 75% coupon barrier on each observation day for that quarter
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| Price: | Par of $10
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| Call option: | At par on any quarterly observation date other than the final date
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| Payout at maturity: | Par unless index closes below 75% trigger level, in which case 1% loss for each 1% decline of worse performing index
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| Initial levels: | 2,201.72 for S&P, 1,329.828 for Russell, 3,016.80 for Stoxx
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| Trigger levels: | 1,651.29 for S&P, 997.371 for Russell, 2,262.60 for Stoxx; 75% of initial levels
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| Pricing date: | Nov. 28
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| Settlement date: | Nov. 30
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48128P597
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