By Toni Weeks
San Luis Obispo, Calif., Feb. 4 – JPMorgan Chase & Co. priced $3.82 million of contingent income autocallable securities due Feb. 6, 2020 linked to the worst 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 will pay a contingent quarterly payment of 2.25%, equivalent to 9% per year, if each index closes at or above its 75% downside threshold level on the observation date for that quarter.
The notes will be redeemed at par plus the contingent payment if each index closes at or above its initial level on any determination date other than the final date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless either index finishes below the 75% downside threshold level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management as distributor.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $3,817,000
|
| Maturity: | Feb. 6, 2020
|
| Coupon: | 2.25% per quarter (9% per year), payable quarterly if each index closes at or above 75% downside threshold level on observation date for quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless either index finishes below downside threshold level, in which case full exposure to losses
|
| Call: | At par plus contingent payment if each index closes at or above 75% downside threshold level on any quarterly redemption determination date other than final date
|
| Initial index levels: | 1,175.515 for Russell and 3,370.11 for Euro Stoxx
|
| Downside thresholds: | 881.63625 for Russell and 2,527.5825 for Euro Stoxx; 75% of initial levels
|
| Pricing date: | Feb. 2
|
| Settlement date: | Feb. 5
|
| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Wealth Management as distributor
|
| Fees: | 2.5%
|
| Cusip: | 48127R685
|
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