Published on 1/19/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.57 million trigger callable contingent yield notes tied to indexes
By Susanna Moon
Chicago, Jan. 19 – JPMorgan Chase Financial Co. LLC priced $3.57 million of trigger callable contingent yield notes due July 22, 2019 linked to worst performing of the Russell 2000 index, the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 8.65% if each index closes at or above the coupon barrier, 65% of the initial price, on each trading day during the observation period for that quarter.
The notes will be callable at par on any observation date after six months.
The payout at maturity will be par unless any index finishes below the 55% downside threshold, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Trigger callable contingent yield notes
|
Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
|
Amount: | $3,565,000
|
Maturity: | July 22, 2019
|
Contingent coupon: | 8.65%, payable quarterly if each index closes at or above 65% coupon barrier on each day during the observation period for that quarter
|
Price: | Par of $10
|
Call option: | At par on any quarterly observation date beginning July 13, 2017
|
Payout at maturity: | Par unless any index finishes below 55% downside threshold, in which case full exposure to any losses of the worst performing index
|
Initial levels: | 1,372.047 for Russell, 2,274.64 for S&P, 3,324.34 for Stoxx
|
Coupon barriers: | 891.831 for Russell, 1,478.52 for S&P, 2,160.82 for Stoxx; 65% of initial levels
|
Downside thresholds: | 754.626 for Russell, 1,251.05 for S&P, 1,828.39 for Stoxx; 55% of initial levels
|
Pricing date: | Jan. 13
|
Settlement date: | Jan. 23
|
Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
Fees: | 1%
|
Cusip: | 48128P266
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.