Published on 1/26/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $4.88 million trigger autocallable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Jan. 26 – JPMorgan Chase Financial Co. LLC priced $4.88 million of trigger autocallable contingent yield notes due Jan. 28, 2019 linked to the Euro Stoxx 50 index, the S&P 500 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 10.3% if each index closes at or above its barrier, 70% of its initial level, 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 beginning July 24.
The payout at maturity will be par unless any index finishes below its barrier, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Euro Stoxx 50, S&P 500 and Russell 2000
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| Amount: | $4,875,000
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| Maturity: | Jan. 28, 2019
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| Coupon: | 10.3%, payable quarterly if each index closes at or above barrier level on observation date
|
| Price: | Par of $10
|
| Call: | Beginning July 24, par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
|
| Payout at maturity: | Par unless any index closes below barrier, in which case 1% loss for each 1% decline of worst performing index from initial level
|
| Initial levels: | 3,299.44 for Stoxx, 1,351.848 for Russell, 2,271.31 for S&P
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| Barriers: | 2,309.61 for Stoxx, 946.294 for Russell, 1,589.92 for S&P, 70% of initial levels
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| Pricing date: | Jan. 23
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| Settlement date: | Jan. 27
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48128P183
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