Published on 4/6/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $937,000 contingent interest autocallables on S&P, Russell, Dow
By Tali Rackner
Minneapolis, April 6 – JPMorgan Chase Financial Co. LLC priced $937,000 of autocallable contingent interest notes due April 4, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, 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 monthly coupon at an annual rate of 5.75% if each index closes at or above its barrier level, 60% of its initial level, on the review date that month.
The notes will be called at par if each index closes above its initial level on any interest payment date other than the first through eleventh and final ones.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its initial level and any index closes below its 60% trigger level on any day during the life of the notes, in which case investors will lose 1% for every 1% decline of the worst-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, Dow Jones industrial average
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| Amount: | $937,000
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| Maturity: | April 4, 2022
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| Coupon: | 5.75% per year, payable monthly if each index closes at or above barrier level on the review date that month
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below initial level and any index closes below trigger level on any day during the life of the notes, in which case 1% loss for every 1% decline of worst-performing index
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| Call: | At par if each index closes above its initial level on any interest payment date other than first through eleventh and final ones
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| Initial levels: | 2,368.06 for S&P, 1,382.345 for Russell, 20,728.49 for Dow
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| Interest barrier/trigger levels: | 1,420.836 for S&P, 829.407 for Russell, 12,437.094 for Dow; 60% of initial levels
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| Pricing date: | March 30
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| Settlement date: | April 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.325%
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| Cusip: | 46646QPG4
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