Published on 6/28/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $704,000 autocallable contingent interest notes on indexes, ETF
By Devika Patel
Knoxville, Tenn., June 28 – JPMorgan Chase Financial Co. LLC priced $704,000 of autocallable contingent interest notes due June 28, 2021 linked to the lesser performing of the Euro Stoxx 50 index, the Russell 2000 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, 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 monthly coupon at an annual rate of 8% if each underlying closes at or above its interest barrier level, 60% of its initial level, on any monthly review date.
The notes will be called at par plus the contingent coupon if each underlying closes at or above its initial level on any quarterly call date beginning on June 25, 2018.
The payout at maturity will be par plus the final coupon unless any underlying finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing underlying from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlyings: | Euro Stoxx 50 index, Russell 2000 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund
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| Amount: | $704,000
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| Maturity: | June 28, 2021
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| Coupon: | 8% annualized, payable monthly if each underlying closes at or above interest barrier level on review date for that month
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any underlying finishes below trigger level, in which case 1% loss for each 1% decline of worse performing underlying from initial level
|
| Call: | At par plus contingent coupon if each underlying closes at or above initial level on any quarterly call date beginning on June 25, 2018
|
| Initial levels: | 3,543.68 for Stoxx, 1,414.778 for Russell, $31.02 for fund
|
| Interest barriers: | 2,126.208 for Stoxx, 848.8668 for Russell, $18.612 for fund; 60% of initial levels
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| Trigger levels: | 2,126.208 for Stoxx, 848.8668 for Russell, $18.612 for fund; 60% of initial levels
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| Pricing date: | June 23
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| Settlement date: | June 28
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.75%
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| Cusip: | 46647MHW6
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