Published on 12/13/2016 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $10 million trigger autocallable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 13 – JPMorgan Chase Financial Co. LLC priced $10 million of trigger autocallable contingent yield notes due Dec. 14, 2026 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 8.35% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date beginning Dec. 11, 2017.
The payout at maturity will be par unless either index finishes below the 50% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Trigger autocallable contingent yield notes
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Underlying indexes: | Euro Stoxx 50 and the Russell 2000
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Amount: | $10,004,000
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Maturity: | Dec. 14, 2026
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Coupon: | 8.35%, payable quarterly if each index closes at or above trigger level on observation date
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Price: | Par of $10
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Call: | Beginning Dec. 11, 2017, par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
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Payout at maturity: | Par unless index closes below 70% trigger level, in which case 1% loss for each 1% decline of worse performing index from initial level
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Initial levels: | 3,197.54 for Stoxx, 1,388.073 for Russell
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Coupon barriers: | 2,238.28 for Stoxx, 971.651 for Russell, 70% of initial levels
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Downside thresholds: | 1,598.77 for Stoxx, 694.037 for Russell, 50% of initial levels
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Pricing date: | Dec. 9
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Settlement date: | Dec. 14
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Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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Fees: | 3.5%
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Cusip: | 48128P571
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