Published on 7/10/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $95,000 autocallable contingent interest notes tied to indexes
By Devika Patel
Knoxville, Tenn., July 10 – JPMorgan Chase Financial Co. LLC priced $95,000 of autocallable contingent interest notes due July 1, 2021 linked to the lesser performing of the S&P 500 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 pay a contingent quarterly coupon at an annual rate of 4.25% if each index closes at or above its coupon barrier level, 80% of its initial level, on the review date for that quarter.
Beginning on June 27, 2018, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par plus the final coupon unless either index finishes below its 80% trigger level, in which case investors will lose 1% for each 1% decline of the worse-performing index from its 80% buffer level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $95,000
|
| Maturity: | July 1, 2021
|
| Coupon: | 4.25% annualized, payable quarterly if each underlying index closes at or above coupon barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless either index finishes below trigger level, in which case 1% loss for each 1% decline of worse-performing index from 80% buffer level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than the final one beginning June 27, 2018
|
| Initial levels: | 2,419.38 for S&P 500, 1,403.522 for Russell 2000
|
| Coupon barrier levels: | 1,935.504 for S&P 500, 1,122.8176 for Russell 2000; 80% of initial levels
|
| Trigger levels: | 1,935.504 for S&P 500, 1,122.8176 for Russell 2000; 80% of initial levels
|
| Pricing date: | June 27
|
| Settlement date: | June 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.25%
|
| Cusip: | 46647MFU2
|
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