Published on 5/3/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $255,000 7% contingent interest autocalls tied to Stoxx, Russell
By Susanna Moon
Chicago, May 3 – JPMorgan Chase Financial Co. LLC priced $255,000 of autocallable contingent interest notes due April 30, 2020 linked to the lesser performing of 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 7% if each index closes at or above its 85% coupon 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 review date other than the first and final dates.
The payout at maturity will be par unless either index falls by more than 15%, in which case investors will be exposed to any losses of the worse performing index beyond the buffer.
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: | Euro Stoxx 50 index, Russell 2000 index
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| Amount: | $255,000
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| Maturity: | April 30, 2020
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| Coupon: | 7% annualized, payable quarterly if each index closes at or above 85% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index falls by more than 15%, in which case 1% loss for each 1% decline of worse performing index beyond 15%
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than first and final dates
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| Initial levels: | 3,485.83 for Stoxx, 1,550.467 for Russell
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| Coupon barriers: | 2,692.9555 for Stoxx, 1,317.89695 for Russell, 85% of initial levels
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| Pricing date: | April 25
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| Settlement date: | April 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48129MJS6
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