Published on 1/19/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.03 million 8% contingent interest autocalls tied to indexes, fund
By Wendy Van Sickle
Columbus, Ohio, Jan. 19 – JPMorgan Chase Financial Co. LLC priced $1.03 million of autocallable contingent interest notes due Jan. 20, 2023 linked to the least performing of the Russell 2000 index, the Euro Stoxx 50 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if each underlying component closes at or above its 66% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each component closes at or above its initial level on any quarterly autocall review date after one year.
The payout at maturity will be par unless any component finishes below its 66% trigger level, in which case investors will be fully exposed to any losses of the worst performing component.
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 assets: | Russell 2000 index, Euro Stoxx 50 index and SPDR S&P Oil & Gas Exploration & Production exchange-traded fund
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| Amount: | $1,033,000
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| Maturity: | Jan. 20, 2023
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| Coupon: | 8% annualized, payable monthly if each component closes at or above coupon barrier on review date for that month
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any component finishes below its trigger, in which case 1% loss for each 1% decline of worst performing component
|
| Call: | At par plus contingent coupon if each component closes at or above initial level on any quarterly review date after one year
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| Initial levels: | 3,612.78 for Stoxx, 1,586.685 for Russell and $39.33 for fund
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| Coupon barriers/triggers: | 2,384.4348 for Stoxx, 1,047.19428 for Russell and $29.9578 for fund; 66% of initial levels
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| Pricing date: | Jan. 17
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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%
|
| Cusip: | 48129HN86
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