Published on 7/6/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $747,000 contingent interest autocallables tied to two indexes
By Wendy Van Sickle
Columbus, Ohio, July 6 – JPMorgan Chase Financial Co. LLC priced $747,000 of autocallable contingent interest notes due July 6, 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 5.5% if each index closes at or above its 80% coupon barrier on the review date for that quarter.
After one year, 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 final date.
The payout at maturity will be par unless either index finishes below its 80% trigger, in which case investors will lose 1% for each 1% decline of the worse 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: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000, S&P 500
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| Amount: | $747,000
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| Maturity: | July 6, 2020
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| Coupon: | 5.5% 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 finishes below its 80% trigger, in which case 1% loss for each 1% decline of worse performing index
|
| Call: | After one year at par plus contingent coupon if each index closes at or above initial level on any review date other than final date
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| Initial index levels: | 2,423.41 for S&P, 1,415.359 for Russell
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| Trigger/barrier levels: | 1,938.728 for S&P, 1,132.2872 for Russell, 80% of initial levels
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.25%
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| Cusip: | 46647MFT5
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