Published on 4/13/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.75 million contingent interest callable notes tied to indexes, fund
By Susanna Moon
Chicago, April 13 – JPMorgan Chase Financial Co. LLC priced $1.75 million of callable contingent interest notes due Oct. 13, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI Emerging Markets exchange-traded fund, 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 8% if each component closes at or above its coupon barrier, 70% of its initial level, on the review date for that quarter.
The notes are callable at par plus the contingent coupon on any review date other than the first and final dates.
The payout at maturity will be par plus the contingent coupon unless any component finishes below its 50% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying assets: | S&P 500 index, the Russell 2000 index, iShares MSCI Emerging Markets ETF
|
| Amount: | $1.75 million
|
| Maturity: | Oct. 13, 2020
|
| Coupon: | 8%, payable quarterly if each component closes at or above 70% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any component falls below 50% trigger, in which case 1% loss for each 1% decline of worst performing component
|
| Call: | At par on any review date other than first and final dates
|
| Initial levels: | 2,360.16 for S&P, 1,368.175 for Russell, $39.63 for fund
|
| Coupon barriers: | 1,652.112 for S&P, 957.7225 for Russell, $27.741 for fund, 50% of initial levels
|
| Trigger levels: | 1,180.08 for S&P, 684.0875 for Russell, $19.815 for fund, 50% of initial levels
|
| Pricing date: | April 4
|
| Settlement date: | April 7
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.55%
|
| Cusip: | 46646Q4V4
|
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