Published on 7/7/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.55 million of autocallables on Euro Stoxx, Russell
By Devika Patel
Knoxville, Tenn., July 7 – JPMorgan Chase Financial Co. LLC priced $4,545,000 of 0% autocallable notes due June 25, 2020 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par plus a call premium of 12.3% per year if each index closes at or above its call level on June 27, 2018, June 20, 2019 or June 22, 2020.
For each index, the call level will be equal to the initial index level for the first observation date, 95% of the initial index level for the second call date and 90% of the initial index level for the final call date.
If the notes are not called, the payout at maturity will be par unless either index declines more than 30% from its initial value, in which case investors will lose 1% for each 1% decline of the lesser performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable notes
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $4,545,000
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| Maturity: | June 25, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless either index falls more than 30%, in which case 1% loss for each 1% decline of worst performer from initial level
|
| Call: | Automatically at par plus 12.3% per year if both indexes close at or above their call levels on June 27, 2018, June 20, 2019 or June 22, 2020
|
| Initial levels: | 3,560.66 for Stoxx and 1,402.968 for Russell
|
| Trigger levels: | 2,492.462 for Stoxx and 982.0776 for Russell, 70% if initial levels
|
| Call levels: | Initial index level for the first observation date, 95% of the initial index level for the second call date and 90% of the initial index level for the final call date
|
| Pricing date: | June 20
|
| Settlement date: | June 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.25%
|
| Cusip: | 46647MA29
|
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