Published on 11/13/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $935,000 contingent interest autocallables linked to Euro Stoxx, Russell
By Angela McDaniels
Tacoma, Wash., Nov. 13 – JPMorgan Chase Financial Co. LLC priced $935,000 of autocallable contingent interest notes due Nov. 14, 2018 linked to the lesser performing of 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.
Each month, the notes will pay a contingent coupon at the rate of 5.5% per year if each index closes at or above its trigger value, 70% of its initial level, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on May 8, 2018, June 8, 2018, July 9, 2018, Aug. 8, 2018, Sept. 10, 2018 or Oct. 8, 2018.
If the notes have not been called, the payout at maturity will be par unless either index closes below its trigger value during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Autocallable contingent interest notes
|
Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
Amount: | $935,000
|
Maturity: | Nov. 14, 2018
|
Coupon: | 5.5% per year, payable monthly if each index closes at or above trigger value on review date for that month
|
Price: | Par
|
Payout at maturity: | Par unless either index closes below trigger value during life of notes and either index finishes below initial level, in which 1% loss for every 1% that lesser-performing index finishes below initial level
|
Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on on May 8, 2018, June 8, 2018, July 9, 2018, Aug. 8, 2018, Sept. 10, 2018 or Oct. 8, 2018
|
Initial index levels: | 3,655.04 for Euro Stoxx 50 and 1,481.734 for Russell 2000
|
Trigger values: | 2,558.528 for Euro Stoxx 50 and 1,037.2138 for Russell 2000, or 70% of initial levels
|
Pricing date: | Nov. 8
|
Settlement date: | Nov. 13
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 1.25%
|
Cusip: | 48129HMN4
|
© 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.