Published on 3/14/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.77 million trigger callable contingent yield notes on Russell, Stoxx
New York, March 13 – JPMorgan Chase Financial Co. LLC priced $2.77 million of floating-rate trigger callable contingent yield notes due March 14, 2022 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon of Libor plus 525 basis points if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
After one year. JPMorgan may call the notes at par of $10 on each quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its downside threshold, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
JPMorgan Chase & Co. will guarantee the notes.
UBS Financial Services Inc. and JPMorgan are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Floating-rate trigger callable contingent yield notes
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| Underlying indexes: | Euro Stoxx 50 and Russell 2000
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| Amount: | $2,773,000
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| Maturity: | March 14, 2023
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| Coupon: | Libor plus 525 bps per year, payable quarterly if each index closes at or above its coupon barrier on the observation date for the quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
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| Call option: | After one year, at par on each quarterly observation date other than final one
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| Initial levels: | 1,597.142 for Russell 2000 and 3,420.54 for Stoxx
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| Coupon barriers: | 1,117.999 for Russell 2000 and 2,394.38 Stoxx; 70% of initial levels
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| Downside thresholds: | 1,117.999 for Russell 2000 and 2,394.38 Stoxx; 70% of initial levels
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| Pricing date: | March 9
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| Settlement date: | March 14
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1%
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| Cusip: | 48129L678
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