Published on 10/16/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.7 million trigger autocallable contingent yield notes on Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Oct. 16 – JPMorgan Chase Financial Co. LLC priced $3.7 million of trigger autocallable contingent yield notes due Oct. 9, 2020 linked to the Russell 2000 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 6.75% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus any coupon unless either index finishes below the 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the worse 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $3.7 million
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| Maturity: | Oct. 9, 2020
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| Coupon: | 6.75%, payable quarterly if each index closes at or above coupon barrier level on observation date
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| Price: | Par of $10
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| Call: | After six months, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
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| Payout at maturity: | Par plus any coupon unless index closes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
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| Initial levels: | 1,510.217 for Russell, 3,603.32 for Stoxx
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| Coupon barriers: | 1,057.152 for Russell, 2,522.32 for Stoxx, 70% of initial levels
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| Downside thresholds: | 1,057.152 for Russell, 2,522.32 for Stoxx, 70% of initial levels
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| Pricing date: | Oct. 6
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| Settlement date: | Oct. 12
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48129J228
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