Published on 2/3/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $517,000 contingent interest autocallables linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 3 – JPMorgan Chase Financial Co. LLC priced $517,000 of autocallable contingent interest notes due Jan. 31, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 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 annual rate of 7.5% if each index closes at or above its coupon barrier, 62.5% of its initial level, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the first, second, third and final dates.
The payout at maturity will be par plus the final contingent interest payment unless either index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the lesser-performing index.
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: | S&P 500, Russell 2000
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Amount: | $517,000
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Maturity: | Feb. 1, 2022
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Issue price: | Par
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Coupon: | 7.5% annualized, payable quarterly if each index closes at or above coupon barrier on review date for that quarter
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Payout at maturity: | Par final contingent interest payment unless either index falls below trigger, in which case full exposure to any losses of lesser-performing index
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Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than the first, second, third and final dates
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Initial levels: | 2,294.69 for S&P, 1,370.704 for Russell
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Barrier/trigger levels: | 1,434.18125 for S&P, 856.69 for Russell; 62.5% of initial levels
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Pricing date: | Jan. 27
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Settlement date: | Feb. 1
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.5%
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Cusip: | 46646QWK7
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