Published on 4/4/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.2 million trigger autocallable contingent yield notes on Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, April 4 – JPMorgan Chase Financial Co. LLC priced $3.2 million of trigger autocallable contingent yield notes due March 27, 2028 linked to 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 pay a contingent annual coupon at an annual rate of 9.15% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that year.
The notes will be called at par if each index closes at or above its initial level on any observation date after a year.
The payout at maturity will be par plus any coupon unless either index finishes below the 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the worse performing index 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: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $3,195,000
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| Maturity: | March 27, 2028
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| Coupon: | 9.15%, payable yearly if each index closes at or above coupon barrier level on observation date
|
| Price: | Par of $10
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any observation date after a year
|
| Payout at maturity: | Par plus any coupon unless index closes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
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| Initial levels: | 1,510.083 for Russell, 3,298.07 for Stoxx
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| Coupon barriers: | 1,057.058for Russell, 2,308.65 for Stoxx, 70% of initial levels
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| Downside thresholds: | 906.05 for Russell, 1,978.84 for Stoxx, 60% of initial levels
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| Pricing date: | March 26
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| Settlement date: | March 29
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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: | 48129L397
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