Published on 6/14/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4 million trigger autocallable contingent yield notes linked to Euro Stoxx, S&P
By Angela McDaniels
Tacoma, Wash., June 14 – JPMorgan Chase Financial Co. LLC priced $4 million of trigger autocallable contingent yield notes due June 16, 2026 linked to the lesser performing of the Euro Stoxx 50 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.
Each quarter, the notes will pay contingent coupon at an annual rate of 7.25% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
Beginning June 12, 2017, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its downside threshold level, in which case investors will be fully exposed to the decline of the lesser-performing index.
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: | Euro Stoxx 50 and S&P 500
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Amount: | $3,997,500
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Maturity: | June 16, 2026
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Coupon: | 7.25%, payable quarterly if indexes close at or above coupon barriers on quarterly observation date
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Price: | Par of $10
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Payout at maturity: | Par unless either index finishes below downside threshold, in which case full exposure to decline of lesser-performing index
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Call: | Beginning June 12, 2017, automatically at par if indexes close at or above initial levels on any quarterly observation date
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Initial levels: | 2,911.11 for Euro Stoxx 50 and 2,096.07 for S&P 500
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Coupon barriers: | 2,037.78 for Euro Stoxx 50 and 1,467.25 for S&P 500; 70% of initial levels
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Downside thresholds: | 1,455.56 for Euro Stoxx 50 and 1,048.04 for S&P 500; 50% of initial levels
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Pricing date: | June 10
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Settlement date: | June 15
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Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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Fees: | 3.5%
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Cusip: | 46646W599
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