Published on 11/29/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.76 million contingent interest autocallables linked to Euro Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 29 – JPMorgan Chase Financial Co. LLC priced $1.76 million of autocallable contingent interest notes due Nov. 27, 2019 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each month, the notes will pay a contingent coupon at the rate of 10.75% per year if each index closes at or above its trigger value, 80% of its initial level, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on May 22, 2018, Aug. 22, 2018, Nov. 23, 2018, Feb. 22, 2019, May 22, 2019 or Aug. 22, 2019.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its trigger level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below 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 contingent interest notes
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| Underlying indexes: | Euro Stoxx 50 and Russell 2000
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| Amount: | $1,759,000
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| Maturity: | Nov. 27, 2019
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| Coupon: | 10.75% per year, payable monthly if each index closes at or above trigger value on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below trigger level, in which 1% loss for every 1% that lesser-performing index finishes below initial level
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on May 22, 2018, Aug. 22, 2018, Nov. 23, 2018, Feb. 22, 2019, May 22, 2019 or Aug. 22, 2019
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| Initial index levels: | 1,516.762 for Russell, 3,562.65 for Stoxx
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| Trigger values: | 1,213.41 for Russell, 2,850.12 for Stoxx, or 80% of initial levels
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| Pricing date: | Nov. 22
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| Settlement date: | Nov. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.78206%
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| Cusip: | 48129HPY7
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