Published on 12/19/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $501,000 callable contingent interest notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 19 – JPMorgan Chase Financial Co. LLC priced $501,000 of callable contingent interest notes due Dec. 22, 2023 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 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each six months, the notes will pay a contingent coupon at an annual rate of 7.4% if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes may be called at par plus the coupon in whole but not in part on any interest payment date except the first through fifth and the final payment dates.
If the notes have not been called, the payout at maturity will be par plus the coupon, unless any index finishes below its trigger level, 70% of its initial level, in which case investors will lose 1% for every 1% decline of the least-performing index from its initial level.
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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| Underlying indexes: | S&P 500, Russell 2000, Dow Jones industrial average
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| Amount: | $501,000
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| Maturity: | Dec. 22, 2023
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| Coupon: | Notes pay semiannual contingent coupon at annual rate of 7.4% if each index closes at or above interest barrier level on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus coupon unless any index finishes below its trigger level, in which case 1% loss for every 1% decline of least-performing index from initial level
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| Call: | Callable at par plus coupon on any quarterly review date other than first through fifth and final dates
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| Initial levels: | 2,675.81 for S&P, 1,530.425 for Russell and 24,651.74 for Dow
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| Coupon barriers/triggers: | 1,873.076 for S&P, 1,071.2975 for Russell and 17,256.218 for Dow; 70% of initial levels
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| Pricing date: | Dec. 15
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| Settlement date: | Dec. 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48129HPV3
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