Published on 3/8/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $14.6 million trigger callable contingent yield notes on three indexes
By Devika Patel
Knoxville, Tenn., March 8 – JPMorgan Chase Financial Co. LLC priced $14.6 million of trigger callable contingent yield notes due Sept. 10, 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.
JPMorgan Chase & Co. is the guarantor.
The notes will pay a contingent quarterly coupon at an annual rate of 9.9% if each index closes at or above its barrier level, 65% of its initial level, on each day during the quarterly observation period.
The notes will be callable at par on any coupon payment date other than the final one.
The payout at maturity will be par of $10 unless any index finishes below its 65% trigger level, in which case investors will lose 1% for each 1% decline 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.
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $14,598,800
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| Maturity: | Sept. 10, 2019
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| Coupon: | 9.9% per year, payable quarterly if each index closes at or above its barrier level each day for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless any index finishes below trigger level, in which case 1% loss for each 1% decline of worst performing index
|
| Call option: | At par quarterly on any coupon date other than the final one
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| Initial levels: | 2,383.12 for S&P, 1,394.127 for Russell, 3,403.39 for Euro Stoxx
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| Barrier/trigger levels: | 1,549.03 for S&P, 906.183 for Russell, 2,212.20 for Euro Stoxx; 65% of initial levels
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| Pricing date: | March 3
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| Settlement date: | March 10
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| Underwriters: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48129F721
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