Published on 5/12/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.06 million of autocallable contingent interest notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, May 12 – JPMorgan Chase Financial Co. LLC priced $5.06 million of autocallable contingent interest notes due Nov. 16, 2016 linked to the least performing of the S&P 500 index, the Euro Stoxx 50 index and the Nikkei 225 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each month, the notes will pay a contingent coupon at an annual rate of 10.93% if each index closes at or above its barrier level, 75% of its initial level, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its barrier level, in which case investors will be fully exposed to the worst performing index’s decline from its initial level.
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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| Indexes: | S&P 500, Euro Stoxx 50 and Nikkei 225
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| Amount: | $5,055,000
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| Maturity: | Nov. 16, 2016
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| Coupon: | Notes pay monthly contingent coupon at annual rate of 10.93% if each index closes at or above barrier level on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below barrier level, in which case full exposure to decline of worst performing index
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly review date other than final one
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| Initial levels: | 2,084.39 for S&P 500, 16,565.19 for Nikkei 225 and 2,978.97 for Euro Stoxx 50
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| Barrier values: | 1,563.2925 for S&P 500, 12,423.8925 for Nikkei 225 and 2,234.2275 for Euro Stoxx 50; 75% of initial levels
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| Pricing date: | May 10
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| Settlement date: | May 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 46646EAE2
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