Published on 3/13/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $854,000 contingent interest autocalls on S&P 500, Stoxx 50, Russell
New York, March 13 – JPMorgan Chase Financial Co. LLC priced $854,000 of autocallable contingent interest notes due March 13, 2023 linked to the least performing of the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.2% if each index closes at or above its 70% interest barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any biannual review date other than the final date. The review dates start on March 8, 2019.
The payout at maturity will be par unless any index finishes below its 60% trigger level, in which case investors will be 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: | S&P 500, Russell 2000 and Euro Stoxx 50
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| Amount: | $854,000
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| Maturity: | March 13, 2023
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| Coupon: | 8.2% annualized, payable quarterly if each index closes at or above interest barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below trigger, in which case 1% loss for each 1% loss of the worst performing index
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| Call: | Starting March 8, 2019 at par plus the contingent coupon if each index closes at or above initial level on any biannual review date other than final date
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| Initial levels: | 2,738.97 for S&P 500, 1,571.965 for Russell 2000 and 3,413.28 for Euro Stoxx 50
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| Interest barrier: | 1,917.279 for S&P 500, 1,100.3755 for Russell 2000 and 2,389.296 for Euro Stoxx 50; 70% of initial levels
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| Trigger value: | 1,643.382 for S&P 500, 943.179 for Russell 2000 and 2,047.968 for Euro Stoxx 50; 60% of initial levels
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| Pricing date: | March 8
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| Settlement date: | March 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48129HU39
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