Published on 8/1/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $9.4 million step down trigger autocallables linked to indexes
By Angela McDaniels
Tacoma, Wash., Aug. 1 – JPMorgan Chase Financial Co. LLC priced $9.4 million of 0% step down trigger autocallable notes due Aug. 4, 2020 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 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 of $10 plus 9.15% per year if each index closes at or above its initial index level on July 30, 2018 or July 29, 2019 or if each index closes at or above its downside threshold level, 70% of its initial level, on July 28, 2020.
If the notes are not subject to an automatic call, that means the final level of at least one index will be less than its downside threshold, and investors will be exposed to the decline of the least-performing index from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx 50
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| Amount: | $9.4 million
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| Maturity: | Aug. 4, 2020
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Full exposure to decline of least-performing index from initial level
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| Call: | At par plus 9.15% per year if each index closes at or above initial index level on July 30, 2018 or July 29, 2019 or if each index closes at or above downside threshold level on July 28, 2020
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| Initial index levels: | 1,429.260 for Russell 2000, 2,472.10 for S&P 500 and 3,467.73 for Euro Stoxx 50
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| Downside thresholds: | 1,000.482 for Russell 2000, 1,730.47 for S&P 500 and 2,427.41 for Euro Stoxx 50; 70% of initial levels
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| Pricing date: | July 28
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| Settlement date: | Aug. 4
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48129J202
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