Published on 9/21/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.58 million contingent interest autocallables on three indexes
By Marisa Wong
Morgantown, W.Va., Sept. 21 – JPMorgan Chase Financial Co. LLC priced $1.58 million of autocallable contingent interest notes due Sept. 19, 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.
If each index closes at or above its 70% coupon barrier on a quarterly review date, the notes will pay a contingent coupon for that quarter at an annual rate of 8.25%.
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 date.
The payout at maturity will be par unless any index finishes below its initial level and any index closes below its 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index.
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: | Russell 2000, S&P 500, Euro Stoxx 50
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| Amount: | $1,584,000
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| Maturity: | Sept. 19, 2018
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| Coupon: | 8.25% annualized, payable each quarter that each index closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below initial level and any index closes below trigger level during life of notes, in which case 1% loss for each 1% decline of worst performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than final date
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| Initial levels: | 1,425.023 for Russell, 2,495.62 for S&P and 3,526.48 for Euro Stoxx
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| Coupon barriers: | 997.5161 for Russell, 1,746.934 for S&P and 2,468.536 for Euro Stoxx; 70% of initial levels
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| Trigger levels: | 997.5161 for Russell, 1,746.934 for S&P and 2,468.536 for Euro Stoxx; 70% of initial levels
|
| Pricing date: | Sept. 14
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| Settlement date: | Sept. 19
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.47124%
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| Cusip: | 46647M4X8
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