Published on 3/28/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $7 million 6% yield autocallables tied to three indexes
By Susanna Moon
Chicago, March 28 – JPMorgan Chase Financial Co. LLC priced $6.98 million of 6% autocallable yield notes due June 27, 2018 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.
Interest is payable monthly.
The notes will be called at par 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 unless any index finishes below its initial level and ever closes below its 75% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worst 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 yield notes
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| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
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| Amount: | $6,972,000
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| Maturity: | June 27, 2018
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| Issue price: | Par
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| Coupon: | 6% annualized, payable monthly
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| Payout at maturity: | Par unless any index falls and ever dips below 75% trigger, in which case 1% loss per 1% decline of worst performing index
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| Call: | At par if each index closes at or above initial level on any review date other than final date
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| Initial index levels: | 2,348.45 for S&P, 1,345.598 for Russell, 3,420.70 for Stoxx
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| Barrier levels: | 1,549.977 for S&P, 888.09468 for Russell, 2,257.662 for Stoxx; 66% of initial levels
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| Pricing date: | March 22
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| Settlement date: | March 27
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.475%
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| Cusip: | 46646QMH5
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