Published on 3/22/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.43 million autocallable yield notes on indexes, PowerShares QQQ
By Wendy Van Sickle
Columbus, Ohio, March 22 – JPMorgan Chase Financial Co. LLC priced $3.43 million of autocallable yield notes due June 25, 2019 linked to the worst performing of the PowerShares QQQ Trust, series 1, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The interest rate will be 7.5% per year, and interest will be payable monthly.
The notes will be called at par if each asset closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless any asset finishes below its initial level and any asset closes below the 66% trigger level any day during the life of the notes, in which case investors will lose 1 for every 1% that the least-performing asset falls from its initial level.
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 yield notes
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| Underlying assets: | PowerShares QQQ Trust, series 1, Euro Stoxx 50 index and Russell 2000 index
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| Amount: | $3,432,000
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| Maturity: | June 25, 2019
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| Coupon: | 7.5%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below initial level and any asset has closed below trigger level any day during life of notes, in which case 1% loss for every 1% decline of worst performing asset
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| Call: | At par if each asset closes at or above the initial level on any quarterly observation date
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| Initial levels: | $167.65 for QQQ, 1,570.405 for Russell, 3,412.08 for Stoxx
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| Trigger levels: | $110.649 for QQQ, 1,036.4673 for Russell, 2,251.9728 for Stoxx, 66% of initial levels
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| Pricing date: | March 20
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| Settlement date: | March 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.975%
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| Cusip: | 48129HR90
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