Published on 4/12/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $21.95 million trigger autocallables on Russell, Stoxx
By Marisa Wong
Morgantown, W.Va., April 12 – JPMorgan Chase Financial Co. LLC priced $21.95 million of trigger autocallable contingent yield notes due March 30, 2028 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 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 8.3% if each index closes at or above its coupon barrier level, 70% of its initial level, on the related quartelry observation date.
After one year, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus any contingent coupon unless either index finishes below the 50% downside threshold level, 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: | Russell 2000 and Euro Stoxx 50
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Amount: | $21,954,820
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Maturity: | March 30, 2028
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Coupon: | 8.3%, payable each quarter that each index closes at or above coupon barrier level on observation date for that quarter
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Price: | Par of $10
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Call: | After one year, at 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 plus any coupon unless either index closes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
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Initial levels: | 1,513.566 for Russell, 3,316.95 for Stoxx
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Coupon barriers: | 1,059.496 for Russell, 2,321.87 for Stoxx; 70% of initial levels
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Downside thresholds: | 756.783 for Russell, 1,658.48 for Stoxx; 50% of initial levels
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Pricing date: | March 27
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Settlement date: | March 29
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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: | 48129L454
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