Published on 1/16/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $10 million step-down trigger autocalls tied to Stoxx 50, Russell
By Susanna Moon
Chicago, Jan. 16 – JPMorgan Chase Financial Co. LLC priced $10 million of step-down trigger autocallable notes due Jan. 9, 2020 linked to the worse 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 will be called at par plus an annual call premium of 10.9% if each index closes at or above its initial level on any annual observation date or its 80% downside threshold on the final valuation date.
If either index finishes below the 80% downside threshold, the payout at maturity will be par plus the return of the worse performing index.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Step-down trigger autocallable notes
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| Underlying indexes: | Euro Stoxx 50, Russell 2000
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| Amount: | $10 million
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| Maturity: | Jan. 9, 2020
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| Contingent coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus return of worse performing index with full exposure to any losses of worse performing index
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| Call: | At par plus 10.9% per year if each index closes at or above initial level on first four annual observation dates or its downside threshold on final valuation date
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| Initial levels: | 3,607.63 for Stoxx, 1,560.01 for Russell
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| Downside thresholds: | 2,886.10 for Stoxx, 1,248.008 for Russell; 80% of initial levels
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| Pricing date: | Jan. 8
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| Settlement date: | Jan. 11
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48129K431
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