Published on 3/15/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.54 million step down trigger autocallables on Russell, S&P 500
New York, March 15 – JPMorgan Chase Financial Co. LLC priced $2.54 million of 0% step down trigger autocallable notes due March 15, 2023 linked to the lesser performing of the Russell 2000 index and the S&P 500 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 7.4% per year if each index closes at or above its initial level on any annual observation date except the final one. One the final observation date, the notes will be automatically called at par of $10 plus 7.4% per year if each index closes at or above its 70% downside threshold level.
If the notes are not subject to an automatic call, that means the final level of at least one index 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | Russell 2000, S&P 500
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| Amount: | $2,539,700
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| Maturity: | March 15, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Full exposure to decline of lesser-performing asset from initial level
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| Call: | At par plus 7.4% per year if each asset closes at or above its initial level on any annual observation date other than its final one or at or above its downside threshold level on the final observation date
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| Initial values: | 1,597.142 for Russell, 2,786.57 for S&P
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| Downside thresholds: | 1,117.999 for Russell, 1,950.60 for S&P; 70% of initial values
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| Pricing date: | March 9
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| Settlement date: | March 14
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48129L611
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