Published on 7/18/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $4.95 million autocallable contingent interest notes on Russell, S&P
New York, July 18 – JPMorgan Chase Financial Co. LLC priced $4.95 million of autocallable contingent interest notes due Jan. 17, 2019 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 quarterly coupon at an annual rate of 5.5% if both indexes close above their interest barrier levels, 70% of their initial levels, on the review date for that quarter.
Starting Jan. 16, 2018, the notes will be called at par plus the contingent coupon if both indexes close at or above their initial levels on any quarterly review date other than the final date.
The payout at maturity will be par plus the final coupon unless either index finishes below its initial level and either closes below its 70% trigger level during the life of the notes, in which case investors will lose 1% for each 1% decline of the lesser performing index from its initial level.
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: | $4,952,000
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| Maturity: | Jan. 17, 2019
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| Coupon: | 5.5% annualized, payable quarterly if each index closes above its interest barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless any index finishes below its initial level and closes below its 70% trigger level during the life of the notes, in which case 1% loss for each 1% decline of lesser performing index from initial level
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| Call: | Starting Jan. 16, 2018, at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than the final date
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| Initial levels: | 2,459.27 for S&P, 1,428.817 for Russell
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| Interest barrier levels: | 1,721.489 for S&P, 1,000.1719 for Russell; 70% of initial levels
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| Trigger levels: | 1,721.489 for S&P, 1,000.1719 for Russell; 70% of initial levels
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| Pricing date: | July 14
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| Settlement date: | July 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.125%
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| Cusip: | 46647MTN3
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