Published on 8/9/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $8.37 million contingent interest autocallables tied to three indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 9 – JPMorgan Chase Financial Co. LLC priced $8.37 million of autocallable contingent interest notes due Nov. 8, 2018 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 pay a contingent quarterly coupon at an annual rate of 8% if each index closes at or above its 70% interest 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 final date.
The payout at maturity will be par unless any index finishes below its initial level and any index has closed below its 70% trigger any day during the life of the notes, in which case investors will lose 1% for each 1% decline of the least-performing index.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Smith Barney LLC is a distributor.
| 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: | Russell 2000 index, S&P 500 index and Euro Stoxx 50 index
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| Amount: | $8,372,000
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| Maturity: | Nov. 8, 2018
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| Coupon: | 8% annualized, payable quarterly if each index closes at or above interest barrier on review date that period
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any index finishes below initial level and any index has closed below trigger during life of notes, in which case 1% loss for each 1% decline of least-performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than final date
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| Initial levels: | 1,425.14 for Russell, 2,470.30 for S&P and 3,449.36 for Stoxx
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| Interest barriers/triggers: | 997.6008 for Russell, 1,729.21 for S&P, and 2,414.552 for Stoxx; 70% 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 with Morgan Stanley Smith Barney LLC as distributor
|
| Fees: | 0.35865%
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| Cusip: | 46647MTZ6
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