Published on 8/3/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $98,000 contingent interest autocallables tied to Russell, S&P 500
By Susanna Moon
Chicago, Aug. 3 – JPMorgan Chase Financial Co. LLC priced $98,000 of autocallable contingent interest notes due Jan. 31, 2025 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 4.5% if each index closes at or above its 80% coupon barrier on review date that period.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the first, second, third and final dates.
The payout at maturity will be par unless either index finishes below its 80% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Smith Barney LLC is a distributor.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index
|
| Amount: | $98,000
|
| Maturity: | Jan. 31, 2025
|
| Coupon: | 4.5% annualized, payable quarterly if each index closes at or above 80% coupon barrier on review date that period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless either index finishes below 80% trigger, in which case 1% loss for each 1% decline of worse performer
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than first, second, third and final dates
|
| Initial levels: | 2,477.83 for S&P, 1,442.279 for Russell
|
| Trigger levels: | 1,982.264 for S&P, 1,153.8232 for Russell; 80% of initial levels
|
| Pricing date: | July 26
|
| Settlement date: | July 31
|
| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Smith Barney LLC as distributor
|
| Fees: | 4%
|
| Cusip: | 46647MVV2
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
