Published on 2/14/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $7.63 million fixed-coupon callable notes tied to three indexes
By Marisa Wong
Morgantown, W.Va., Feb. 14 – JPMorgan Chase Financial Co. LLC priced $7.63 million of fixed-coupon callable securities due Feb. 14, 2019 linked to the least-performing of the Euro Stoxx 50 index, S&P 500 index and Russell 2000 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 fixed coupon at an annualized rate of 5.3%.
The notes will be callable at par on any coupon payment date other than the first and final dates.
If each index finishes at or above its 60% downside threshold, the payout at maturity will be par plus the final coupon payment. Otherwise, investors will be fully exposed to the loss of the least performing index but will still receive the final coupon payment.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Fixed-coupon callable securities
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| Underlying indexes: | Euro Stoxx 50, S&P 500 and Russell 2000
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| Amount: | $7,627,000
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| Maturity: | Feb. 14, 2019
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| Coupon: | 5.3%, payable quarterly
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| Price: | Par of $1,000
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| Payout at maturity: | If each index finishes at or above its downside threshold, par plus the final coupon payment; otherwise, investors will be fully exposed to the loss of the least performing index but will still receive the final coupon payment
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| Call option: | At par on any coupon payment date other than the first and final dates
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| Initial levels: | 3,270.83 for Stoxx, 2,316.10 for S&P, 1,388.844 for Russell
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| Downside thresholds: | 1,962.498 for Stoxx, 1,389.66 for S&P, 833.3064 for Russell, 60% of initial levels
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 15
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| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Wealth Management handling distribution
|
| Fees: | 2%
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| Cusip: | 46646QA88
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