Published on 11/13/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $6.7 million 7.85% contingent income callables on three indexes
By Susanna Moon
Chicago, Nov. 13 – JPMorgan Chase Financial Co. LLC priced $6.7 million of contingent income callable securities due Nov. 12, 2019 linked to the worst performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 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 annualized rate of 7.85% if each index closes at or above its 75% coupon barrier on each trading day for that quarter.
The notes are callable at par on any contingent interest payment date other than the final date.
The payout at maturity will be par plus the contingent coupon unless any index finishes below its 70% downside threshold, in which case investors will be fully exposed to any losses of the worst performing index.
J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income callable securities
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| Underlying indexes: | Euro Stoxx 50, S&P 500 and Russell 2000
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| Amount: | $6.7 million
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| Maturity: | Nov. 12, 2019
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| Coupon: | 7.85% per year, payable quarterly if each index closes at or above coupon barrier on each trading day that quarter
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| Price: | Par
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| Call option: | At par on any interest payment date other than final date
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing index
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| Initial levels: | 1,497.962 for Russell, 2,591.13 for S&P and 3,682.36 for Stoxx
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| Coupon barriers: | 1,123.4715 for Russell, 1,943.3475 for S&P and 2,761.77 for Stoxx; 75% of initial levels
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| Downside thresholds: | 1,048.5734 for Russell, 1,813.791 for S&P and 2,577.652 for Stoxx; 70% of initial levels
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| Pricing date: | Nov. 6
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| Settlement date: | Nov. 9
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| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Wealth Management handling distribution
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| Fees: | 1.5%
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| Cusip: | 48129HMQ7
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