Published on 6/5/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.15 million contingent interest callable notes tied to three indexes
By Susanna Moon
Chicago, June 5 – JPMorgan Chase Financial Co. LLC priced $1.15 million of callable contingent interest notes due June 15, 2018 linked to the lesser performing of the Russell 2000 index and the S&P 500 index and the Euro Stoxx 50 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 10% if each index closes at or above its 80% coupon barrier on the review date for that quarter.
The notes are callable at par on any review date other than the final date.
The payout at maturity will be par unless any index finishes below its 80% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index.
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: | Callable contingent interest notes
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| Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx 50
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| Amount: | $1,153,000
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| Maturity: | June 15, 2018
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| Coupon: | 10% 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 any index falls below 80% trigger, in which case 1% loss for each 1% decline of worst performing index
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| Call option: | At par plus contingent coupon on any review date other than final date
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| Initial index levels: | 2,415.07 for S&P, 1,383.388 for Russell, 3,584.55 for Stoxx
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| Trigger levels: | 1,932.056 for S&P, 1,106.7104 for Russell, 2,867.64 for Stoxx, 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: | 1%
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| Cusip: | 46647MKS1
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