Published on 1/18/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $697,000 7.5% contingent interest autocalls tied to three indexes
By Susanna Moon
Chicago, Jan. 18 – JPMorgan Chase Financial Co. LLC priced $697,000 of autocallable contingent interest notes due Jan. 19, 2024 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the Nasdaq 100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7.5% if each index closes at or above its 70% coupon barrier on the review date for that month.
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.
The payout at maturity will be par unless any index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are guaranteed by JPMorgan Chase & Co.
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 contingent interest notes
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| Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index and Nasdaq 100 index
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| Amount: | $697,000
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| Maturity: | Jan. 19, 2024
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| Coupon: | 7.5% annualized, payable monthly if each index closes at or above 70% coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below 60% trigger, in which case 1% loss for each 1% decline of worst performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date after one year
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| Initial levels: | 1,454.697 for Russell, 6,668.562 for Nasdaq and 3,077.22 for Stoxx
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| Coupon barriers: | 1,018.2879 for Russell, 4,667.9934 for Nasdaq and 2,154.054 for Stoxx, 70% of initial levels
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| Trigger levels: | 872.8182 for Russell, 4,001.1372 for Nasdaq and 1,846.332 for Stoxx, 60% of initial levels
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| Pricing date: | Jan. 16
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| Settlement date: | Jan. 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 4.125%
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| Cusip: | 48130WSA0
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