Published on 4/26/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.95 million autocallable securities linked to three indexes
By Wendy Van Sickle
Columbus, Ohio, April 26 – JPMorgan Chase Financial Co. LLC priced $2.95 million of 0% autocallable securities due April 24, 2020 linked to the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If each index closes at or above its initial level on a quarterly determination date after one year, the notes will be called at par plus 13.7% a year.
The payout at maturity will be par if each index closes above its 75% downside threshold level.
Otherwise, investors will be fully exposed to any losses of the worst-performing index.
The agent is J.P. Morgan Securities LLC with Morgan Stanley Wealth Management as a distributor.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable securities
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| Underlying stocks: | S&P 500 index, Euro Stoxx 50 index and Dow Jones industrial average
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| Amount: | $2,952,000
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| Maturity: | April 24, 2020
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | Par if each index closes above 75% downside threshold; otherwise, full exposure to any losses of the worst-performing index
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| Call: | At par plus 13.7% a year if each index closes above initial level on a quarterly observation date after one year
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| Initial share prices: | 2,348.69 for S&P, 20,547.76 for Dow Jones, 3,440.27 for Stoxx
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| Downside thresholds: | 1,761.5175 for S&P, 15,410.82 for Dow Jones, 2,580.2025 for Stoxx, 75% of initial prices
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| Pricing date: | April 21
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| Settlement date: | April 26
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| Agents: | J.P. Morgan Securities LLC with Morgan Stanley Wealth Management as a distributor
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| Fees: | 2.5%
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| Cusip: | 46646Q5S0
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