Published on 12/20/2017 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.15 million step down trigger autocallables on Russell, Stoxx 50
By Marisa Wong
Morgantown, W.Va., Dec. 20 – JPMorgan Chase Financial Co. LLC priced $1.15 million of 0% step down trigger autocallable notes due Dec. 21, 2022 linked to the lesser 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 are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par of $10 plus 11.2% per year if each asset closes at or above its call threshold level on any annual observation date. For each asset, the call threshold level will be equal to the initial level for the first four observation dates and 70% of the initial level for the final observation date, Dec. 15, 2022.
If the notes are not subject to an automatic call, that means the final level of at least one asset will be less than its downside threshold, 70% of its initial level, and investors will be exposed to the decline of the lesser-performing asset from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Step down trigger autocallable notes
|
| Underlying assets: | Russell 2000 index, Euro Stoxx 50 index
|
| Amount: | $1,148,000
|
| Maturity: | Dec. 21, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Full exposure to decline of lesser-performing asset from initial level
|
| Call: | At par plus 11.2% per year if each asset closes at or above its call threshold level on any annual observation date
|
| Initial values: | 1,530.425 for Russell, 3,560.53 for Euro Stoxx
|
| Downside thresholds: | 1,071.298 for Russell, 2,492.37 for Euro Stoxx; 70% of initial values
|
| Call threshold levels: | Equal to initial levels for first four observation dates and equal to downside thresholds for Dec. 15, 2022
|
| Pricing date: | Dec. 15
|
| Settlement date: | Dec. 20
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48129K639
|
|
|
© 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.
