Published on 2/13/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $910,000 contingent interest autocallables tied to three indexes
By Susanna Moon
Chicago, Feb. 13 – JPMorgan Chase Financial Co. LLC priced $910,000 of autocallable contingent interest notes due May 10, 2018 linked to the lesser 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.
The notes will pay a contingent quarterly coupon at an annual rate of 6% if each index closes at or above its coupon barrier, 75% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par plus the final contingent interest payment unless either index finishes below its 63.5% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying indexes: | S&P 500, Russell 2000 and the Euro Stoxx 50
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Amount: | $910,000
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Maturity: | May 10, 2018
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Issue price: | Par
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Coupon: | 6% annualized, payable quarterly if each index closes at or above 75% coupon barrier on review date for that quarter
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Payout at maturity: | Par final contingent interest payment unless any index falls and any index ever dips below trigger, in which case full exposure to any losses of worst performing index
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Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than the final date
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Initial levels: | 2,292.56 for S&P, 1,366.66 for Russell, for Stoxx
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Coupon barriers: | 1,719.42 for S&P, 1,024.995 for Russell, 2,428.7325 for Stoxx; 75% of initial levels
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Trigger levels: | 1,455.7756 for S&P, 867.8291 for Russell, 2,056.32685 for Stoxx; 63.5% of initial levels
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Pricing date: | Feb. 6
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Settlement date: | Feb. 9
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.475%
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Cusip: | 46646QA39
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