Published on 4/10/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $9.02 million trigger autocallable notes on Russell 2000, S&P 500
By Marisa Wong
Morgantown, W.Va., April 10 – JPMorgan Chase Financial Co. LLC priced $9.02 million of 0% trigger autocallable contingent yield notes due April 2, 2020 linked to the Russell 2000 index and the S&P 500 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 coupon at an annual rate of 8.25% on a quarter if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless either index finishes below the 70% downside threshold level, in which case investors will lose 1% for every 1% decline of the worse performing index.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $9,020,500
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| Maturity: | April 2, 2020
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| Coupon: | 8.25%, payable quarterly if each index closes at or above coupon barrier on quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus the final coupon, if any, unless either index finishes below the downside threshold level, in which case investors will lose 1% for every 1% decline of the worse performing index
|
| Call: | At par if each index closes at or above its initial level on any quarterly observation date after six months
|
| Initial levels: | 1,371.645 for Russell, 2,361.13 for S&P
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| Coupon barriers: | 960.152 for Russell, 1,652.79 for S&P; 70% of initial levels
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| Downside thresholds: | 960.152 for Russell, 1,652.79 for S&P; 70% of initial levels
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| Pricing date: | March 29
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| Settlement date: | March 31
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| Agents: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
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| Fees: | None
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| Cusip: | 48129F630
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