Published on 6/2/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.78 million contingent interest autocallables tied to indexes, fund
By Susanna Moon
Chicago, June 2 – JPMorgan Chase Financial Co. LLC priced $3.78 million of autocallable contingent interest notes due May 29, 2020 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if each component closes at or above its 60% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each component closes at or above its initial level on any review date.
The payout at maturity will be par unless any component finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing component.
The notes are guaranteed by JPMorgan Chase & Co.
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 assets: | Euro Stoxx 50 index, Russell 2000 index and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $3,775,000
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| Maturity: | May 29, 2020
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| Coupon: | 8% annualized, payable monthly if each underlying component closes at or above 60% coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any component falls below trigger level, in which case 1% loss for each 1% decline of worst performing component
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| Call: | At par plus contingent coupon if each component closes at or above initial level on any review date
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| Initial levels: | 3,595.03 for Stoxx, 1,380.982 for Russell, $35.21 for oil fund
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| Trigger levels: | 2,157.018 for Stoxx, 828.5892 for Russell, $21.126 for oil fund, 60% of initial levels
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| Pricing date: | May 23
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| Settlement date: | May 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.4%
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| Cusip: | 46647MDK6
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