Published on 7/13/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.08 million contingent interest autocalls tied to index, fund
By Wendy Van Sickle
Columbus, Ohio, July 13 – JPMorgan Chase Financial Co. LLC priced $3.08 million of autocallable contingent interest notes due June 23, 2023 linked to the lesser performing of the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.25% if each underlying asset closes at or above its 80% coupon barrier on the review date.
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 either underlying asset finishes below 80% buffer level, in which case investors will be exposed to any losses of the worst performing index or fund beyond the buffer.
The notes are guaranteed by JPMorgan Chase & Co.
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 EAFE ETF
|
| Amount: | $3,075,000
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| Maturity: | June 23, 2023
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| Coupon: | 8.25% annualized, payable quarterly if each asset closes at or above coupon barrier on review date
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below buffer, in which case 1% loss for each 1% decline of worse performing index or fund beyond 20%
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than first, second, third and final dates
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| Initial values: | 3,368.72 for Stoxx, $43.16 for ETF
|
| Coupon barrier/buffers: | 2,694.976 for Stoxx, $34.528 for ETF, 80% of initial levels
|
| Pricing date: | June 26
|
| Settlement date: | June 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.5%
|
| Cusip: | 48129MYJ9
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