Published on 8/11/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $600,000 callable contingent interest notes on indexes
By Susanna Moon
Chicago, Aug. 11 – JPMorgan Chase Financial Co. LLC priced $600,000 of callable contingent interest notes due Aug. 16, 2021 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 will pay a contingent quarterly coupon at an annualized rate of 4.75% if each index closes at or above its 60% coupon barrier on an observation date for that quarter.
The notes are callable at par on any quarterly observation date on any interest payment date except the first, second, third and final dates.
The payout at maturity will be par unless either index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $600,000
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| Maturity: | Aug. 16, 2021
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| Coupon: | 4.75% per year, payable quarterly if each index closes at or above 60% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus coupon unless either index finishes below 60% trigger, in which case par plus return of worse performing index with full exposure to any losses
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| Call option: | At par plus coupon on any quarterly review date other than first, second, third and final dates
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| Initial levels: | 1,414.167 for Russell and 2,480.91 for S&P
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| Barrier levels: | 848.5002 for Russell and 1,488.546 for S&P, 60% of initial levels
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| Pricing date: | Aug. 7
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| Settlement date: | Aug. 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 46647MJ61
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