Published on 6/1/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.48 million contingent interest autocalls tied to index, ETF
By Wendy Van Sickle
Columbus, Ohio, June 1 – JPMorgan Chase Financial Co. LLC priced $1.48 million of autocallable contingent interest notes due May 30, 2025 linked to the least performing of the Euro Stoxx 50 index and the iShares MSCI Emerging Markets ETF, 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% if each asset closes at or above its 80% interest barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each asset 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 any asset finishes below its 80% buffer level, in which case investors will be exposed to losses of the least-performing asset beyond the buffer.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying assets: | Euro Stoxx 50 index and iShares MSCI Emerging Markets ETF
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| Amount: | $1,477,000
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| Maturity: | May 30, 2025
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| Coupon: | 8% annualized, payable quarterly if each asset closes at or above interest barrier on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below buffer level, in which case 1% loss for each 1% decline of least-performing asset beyond buffer
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any review date other than first, second, third and final dates
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| Initial values: | 3,428.14 for index, $45.35 for ETF
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| Interest barrier/buffer levels: | 2,742.512 for index, $36.28 for ETF, 80% of initial levels
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| Pricing date: | May 29
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| Settlement date: | May 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.5%
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| Cusip: | 48129MPX8
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