Published on 8/7/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $851,000 of contingent interest autocallables on indexes
By Susanna Moon
Chicago, Aug. 7 – JPMorgan Chase Financial Co. LLC priced $851,000 of autocallable contingent interest notes due Aug. 5, 2020 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 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 review date that quarter.
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 first, second, third and final dates.
The payout at maturity will be par unless either index falls by more than 20%, in which case investors will lose 1% for each 1% decline of the worse performing index beyond 20%.
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: | S&P 500 and Russell 2000
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| Amount: | $851,000
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| Maturity: | Aug. 5, 2020
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| Coupon: | 5.5% annualized, payable quarterly if each index closes at or above 80% coupon barrier on review date that quarter
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| Price: | Par
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than first, second, third and final dates
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| Payout at maturity: | Par unless either index falls by more than 20%, in which case 1% for each 1% decline of worse performing index beyond 20%
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| Initial index levels: | 2,470.30 for S&P, 1,425.144 for Russell
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| Coupon barriers: | 1,976.24 for S&P, 1,140.1152 for Russell; 80% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.25%
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| Cusip: | 46647MVS9
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