Published on 3/24/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $14.92 million trigger callable contingent yield notes on indexes
By Susanna Moon
Chicago, March 24 – JPMorgan Chase Financial Co. LLC priced $14.92 million of trigger callable contingent yield notes due Sept. 24, 2019 linked to the least 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 9.1% if each index closes at or above its coupon barrier, 65% of its initial level, on the observation date for that quarter.
The notes are callable at par on any quarterly observation date.
The payout at maturity will be par plus the contingent coupon unless any index finishes below its 65% trigger level, in which case investors will be fully exposure to any losses 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.
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
|
| Amount: | $14,918,700
|
| Maturity: | Sept. 24, 2019
|
| Contingent coupon: | 9.1%, payable quarterly if each index closes at or above 65% coupon barrier on quarterly observation date
|
| Price: | Par of $10
|
| Call option: | At par on any quarterly observation date
|
| Payout at maturity: | Par unless any index finishes below 70% threshold, in which case 1% loss for each 1% decline of worst performing index
|
| Initial levels: | 2,378.25 for S&P, 1,391.524 for Russell, 3,448.41 for Stoxx
|
| Trigger levels: | 1,545.8625 for S&P, 904.4906 for Russell, 2,241.47 for Stoxx; 65% of initial levels
|
| Pricing date: | March 17
|
| Settlement date: | March 24
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48129F655
|
|
|
|
|
© 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.
