Published on 3/6/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.51 million of contingent coupon autocallables on three indexes
By Wendy Van Sickle
Columbus, Ohio, March 6 – JPMorgan Chase Financial Co. LLC priced $5.51 million of contingent coupon autocallable yield notes due March 5, 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.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if each index closes at or above its barrier level, 75% of its initial level, on the observation date for that quarter.
The payout at maturity will be par plus the final coupon unless any index finishes below its 75% barrier level, in which case investors will lose 1% for each 1% decline of the worst-performing index.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date other than the final one.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
|
| Amount: | $5,507,000
|
| Maturity: | March 5, 2019
|
| Coupon: | 10% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless any index finishes below its 75% barrier level, in which case 1% loss for each 1% decline of the worst-performing index
|
| Call option: | At par if each index closes at or above its initial level on any quarterly observation date other than the final one
|
| Initial index levels: | 2,363.64 for S&P 500, 1,386.684 for Russell 2000, 3,319.61 for Euro Stoxx 50
|
| Barrier levels: | 1,772.73 for S&P 500, 1,040.013 for Russell 2000, 2,489.7075 for Euro Stoxx 50, 75% of initial levels
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 46646QLN3
|
|
|
© 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.
