Published on 6/5/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $312,000 contingent interest autocallables on indexes
By Susanna Moon
Chicago, June 5 – JPMorgan Chase Financial Co. LLC priced $312,000 of autocallable contingent interest notes due May 29, 2020 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 5.75% if each index closes at or above its 80% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the first, second, third and final dates.
The payout at maturity will be par unless either index falls by more than the 20% buffer, in which case investors will lose 1% for each 1% decline of the worse performing index beyond the buffer.
The notes are guaranteed by JPMorgan Chase & Co.
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 contingent interest notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $312,000
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| Maturity: | May 29, 2020
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| Coupon: | 5.75% annualized, payable quarterly if each underlying index closes at or above 80% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless either index falls by more than 20%, in which case 1% loss for each 1% decline of worse performing index beyond 20%
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than first, second, third and final dates
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| Initial index levels: | 2,415.07 for S&P, 1,383.388 for Russell
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| Coupon barriers: | 1,932.056 for S&P, 1,106.7104 for Russell, 80% of initial levels
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| Pricing date: | May 25
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| Settlement date: | May 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.35%
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| Cusip: | 46647MBU6
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