Published on 2/14/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $8.2 million callable contingent interest notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 14 – JPMorgan Chase Financial Co. LLC priced $8.2 million of callable contingent interest notes due Feb. 14, 2019 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9.1% if each index closes at or above its trigger level, 70% of its initial level, on the review date for that quarter.
The notes may be called at par in whole but not in part after March 21, 2017 on any interest payment date other than the final one.
If the notes have not been called, the payout at maturity will be par unless any of the indexes has finished below its trigger level, 70% of its initial level, in which case investors will lose 1% for every 1% decline of the worst performing underlying.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlyings: | S&P 500 index, Russell 2000 index and Euro Stoxx 50
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| Amount: | $8,202,000
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| Maturity: | Feb. 14, 2019
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| Coupon: | 9.1% payable quarterly if each index closes at or above trigger level on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any underlying finishes below 70% of its initial value, in which case 1% loss for every 1% decline of worst-performing index
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| Call: | At par on any quarterly review date other than final one beginning on March 21, 2017
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| Initial levels: | 2,316.10 for S&P 500, 1,388.844 for Russell 2000 and 3,270.83 for Stoxx
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| Trigger levels: | 1,621.27 for S&P 500, 972.190 for Russell 2000 and 2,289.581 for Stoxx; 70% of initial levels
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 15
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 46646QB53
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