Published on 10/18/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $100,000 step-down autocallables linked to Stoxx, FTSE
By Susanna Moon
Chicago, Oct. 18 – JPMorgan Chase Financial Co. LLC priced $100,000 of autocallable notes due Sept. 30, 2021 linked to the lesser performing of the Euro Stoxx 50 index and the FTSE 100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 12% if each index closes at or above its initial level on any review date other than the final date. The call level will be 100% of initial level on first valuation date, stepping down to 95% of initial level on second valuation date and to 90% of initial level on final valuation date.
The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse 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 notes
|
| Underlying indexes: | Euro Stoxx 50 and FTSE 100
|
| Amount: | $100,000
|
| Maturity: | Sept. 30, 2021
|
| Issue price: | Par
|
| Coupon: | 0%
|
| Call: | At par plus 12% per year if each index closes at or above call level on any review date; call level will be 100% of initial level on first valuation date, stepping down to 95% of initial level on second valuation date and to 90% of initial level on final valuation date
|
| Payout at maturity: | Par unless either index finishes below 70% trigger level, in which case full exposure to any losses of worse performing index
|
| Initial levels: | 3,419.78 for Stoxx and 7,507.56 for FTSE
|
| Barrier levels: | 2,393.846 for Stoxx and 5,255.292 for FTSE; 70% of initial levels
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.25%
|
| Cusip: | 48130UHR9
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
