Published on 1/18/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $4.3 million trigger callable contingent yield notes on indexes
By Marisa Wong
Morgantown, W.Va., Jan. 18 – JPMorgan Chase Financial Co. LLC priced $4.3 million of trigger callable contingent yield notes with daily coupon observation due Jan. 22, 2019 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 are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 13.05% if each index closes at or above its coupon barrier level, 75% of its initial level, on each trading day that quarter.
The notes will be callable at par on any quarterly observation date other than the final date.
The payout at maturity will be par of $10 unless any index finishes below its 75% downside threshold level, in which case investors will lose 1% for each 1% decline of the worst performing index.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co.
|
| 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 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $4,302,000
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| Maturity: | Jan. 22, 2019
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| Coupon: | 13.05% per year, payable each quarter that each index closes at or above its coupon barrier level on each trading day that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par unless any index finishes below downside threshold level, in which case 1% loss for each 1% decline of worst performing index
|
| Call option: | At par quarterly prior to final valuation date
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| Initial levels: | 2,274.64 for S&P 500, 1,372.047 for Russell 2000 and 3,324.34 for Euro Stoxx 50
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| Coupon barriers: | 1,705.98 for S&P 500, 1,029.035 for Russell 2000 and 2,493.26 for Euro Stoxx 50; 75% of initial levels
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| Downside thresholds: | 1,705.98 for S&P 500, 1,029.035 for Russell 2000 and 2,493.26 for Euro Stoxx 50; 75% of initial levels
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| Pricing date: | Jan. 13
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| Settlement date: | Jan. 23
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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: | 48128P258
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