Published on 6/16/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.15 million contingent interest autocallables tied to two indexes
By Susanna Moon
Chicago, June 16 – JPMorgan Chase Financial Co. LLC priced $3.15 million of autocallable contingent interest notes due June 4, 2020 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.75% if each index closes at or above its 70% coupon barrier 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 and final dates.
The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Autocallable contingent interest notes
|
Underlying indexes: | Russell 2000, S&P 500
|
Amount: | $3,152,000
|
Maturity: | June 4, 2020
|
Coupon: | 6.75% annualized, payable quarterly if each underlying index closes at or above 70% coupon barrier on review date for that quarter
|
Price: | Par
|
Payout at maturity: | Par plus contingent coupon unless either index falls below its 70% trigger, in which case 1% loss for each 1% decline of worse performing index
|
Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than first and final dates
|
Initial levels: | 2,411.80 for S&P, 1,370.208 for Russell
|
Trigger levels: | 1,688.26 for S&P, 959.1456 for Russell, 70% of initial levels
|
Pricing date: | May 31
|
Settlement date: | June 5
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 0.59063%
|
Cusip: | 46646QRX5
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.