Published on 11/27/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $660,000 contingent interest autocalls on Russell, S&P, Dow
By Sarah Lizee
Olympia, Wash., Nov. 27 – JPMorgan Chase Financial Co. LLC priced $660,000 of autocallable contingent interest notes due Nov. 19, 2020 linked to the worst performing of the Dow Jones Industrial Average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 5.6% if each index closes at or above its 65% coupon barrier on the review date for that period.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the final date.
If the notes are not called, the payout at maturity will be par unless any index finishes below its initial level and any index ever closes below its 65% trigger level, in which case investors will lose 1% for each 1% decline of the least performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | S&P 500, Russell 2000, Dow Jones Industrial Average
|
| Amount: | $660,000
|
| Maturity: | Nov. 19, 2020
|
| Coupon: | 5.6% annualized, payable semiannually if each index closes at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below initial level and ever closes below 65% trigger level, in which case investors will lose 1% for each 1% decline of the least performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than final date
|
| Initial levels: | 25,413.22 for Dow, 1,527.533 for Russell and 2,736.27 for S&P
|
| Coupon barriers/trigger values: | 16,518.593 for Dow, 992.8965 for Russell and 1,778.5755 for S&P, 65% of initial levels
|
| Pricing date: | Nov. 16
|
| Settlement date: | Nov. 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48130WBN0
|
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