Published on 12/8/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.13 million contingent interest autocallables on three indexes
By Tali Rackner
Minneapolis, Dec. 8 – JPMorgan Chase Financial Co. LLC priced $4.13 million of autocallable contingent interest notes due Feb. 28, 2019 linked to the lesser 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.
Each quarter, the notes will pay a contingent coupon at the rate of 7.25% per year if each index closes at or above its interest barrier, 70% of its initial level, on the review date for that quarter.
The notes will be automatically 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 first and final review dates.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its 70% trigger value on any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index declines beyond 30%.
J.P. Morgan Securities LLC is the agent.
| 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, S&P 500 and Euro Stoxx 50
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| Amount: | $4,132,000
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| Maturity: | Feb. 28, 2019
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| Coupon: | 7.25% per year, payable quarterly if each index closes at or above interest barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below trigger value on any day during the life of the notes, in which case 1% loss for every 1% that least-performing index declines beyond 30%
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than first and final dates
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| Initial index levels: | 1,513.309 for Russell, 2,601.42 for S&P 500 and 3,564.02 for Euro Stoxx
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| Interest barrier/trigger values: | 1,059.3163 for Russell, 1,820.994 for S&P 500 and 2,494.814 for Euro Stoxx, or 70% of initial levels
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| Pricing date: | Nov. 27
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| Settlement date: | Nov. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.06801%
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| Cusip: | 48129HJM0
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