Published on 4/25/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $6 million step down trigger autocallables on Russell, Nasdaq, S&P
By Wendy Van Sickle
Columbus, Ohio, April 25 – JPMorgan Chase Financial Co. LLC priced $6 million of 0% step down trigger autocallable notes due April 27, 2023 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par of $10 plus 9% per year if each index closes at or above its initial level on any annual observation date.
At maturity, if the final level of each index is at least equal to its downside threshold, 70% of its initial level, the payout will be par plus 45%. Otherwise, investors will be exposed to the decline of the least-performing asset 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: | Step down trigger autocallable notes
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| Underlying assets: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $6 million
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| Maturity: | April 27, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 45% if each index closes above downside threshold; otherwise, full exposure to decline of least-performing index from initial level
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| Call: | At par plus 9% per year if each index closes at or above its initial level on any annual observation date
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| Initial values: | 2,670.14 for S&P, 1,564.124 for Russell, 6,667.751 for Nasdaq
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| Downside thresholds: | 1,869.1 for S&P, 1,094.87 for Russell, 4,667.426 for Nasdaq; 70% of initial values
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| Pricing date: | April 23
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| Settlement date: | April 27
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48129N302
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