Published on 2/14/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $715,000 callable contingent interest notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 14 – JPMorgan Chase Financial Co. LLC priced $715,000 of callable contingent interest notes due Feb. 18, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7.5% if each index closes at or above its barrier level, 65% of its initial level, on the review date for that quarter.
The notes may be called at par in whole but not in part after May 17, 2017 on any interest payment date other than the final one.
If the notes have not been called, the payout at maturity will be par unless any of the indexes has finished below its trigger level, 60% of its initial level, in which case investors will lose 1% for every 1% decline of the worst performing underlying.
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: | Callable contingent interest notes
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| Underlyings: | S&P 500 index, Russell 2000 index and Euro Stoxx 50
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| Amount: | $715,000
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| Maturity: | Feb. 18, 2020
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| Coupon: | 7.5% payable quarterly if each index closes at or above barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any underlying finishes below trigger level, in which case 1% loss for every 1% decline of worst-performing index
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| Call: | Beginning on May 17, 2017, at par on any quarterly review date other than final one
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| Initial levels: | 2,316.10 for S&P 500, 1,388.844 for Russell 2000 and 3,270.83 for Stoxx
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| Barrier levels: | 1,505.465 for S&P 500, 902.7486 for Russell 2000 and 2,126.0395 for Stoxx; 65% of initial levels
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| Trigger levels: | 1,389.66 for S&P 500, 833.3064 for Russell 2000 and 1,962.498 for Stoxx; 60% of initial levels
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 17
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.25%
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| Cusip: | 46646QC86
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