Published on 8/9/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.3 million contingent interest autocallables tied to Russell, S&P 500
By Wendy Van Sickle
Columbus, Ohio, Aug. 9 – JPMorgan Chase Financial Co. LLC priced $2.3 million of autocallable contingent interest notes due Aug. 5, 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 6.75% if each index closes at or above its 70% coupon barrier on review date that period.
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 and final dates.
The payout at maturity will be par unless either index finishes below its 70% 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
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
|
| Amount: | $2,301,000
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| Maturity: | Aug. 5, 2020
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| Coupon: | 6.75% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date that period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless either index either index finishes below 70% trigger, in which case 1% loss for each 1% decline of worse performer
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than first and final dates
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| Initial levels: | 2,470.30 for S&P, 1,425.144 for Russell
|
| Trigger levels: | 1,729.21 for S&P, 997.6008 for Russell; 70% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.55139%
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| Cusip: | 46647MUB7
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