Published on 5/14/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.17 million autocallable yield notes on Russell, Stoxx, PowerShares
By Tali Rackner
Minneapolis, May 14 – JPMorgan Chase Financial Co. LLC priced $3.17 million of autocallable yield notes due July 24, 2019 linked to the least performing of the Russell 2000 index, the Euro Stoxx 50 index and the PowerShares QQQ Trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The interest rate will be 7.5% per year, payable monthly.
The notes will be automatically called at par if each asset closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par unless any asset finishes negative or declines by more than the 35.5% trigger amount on any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing asset declines.
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 yield notes
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| Underlying assets: | Russell 2000 index, Euro Stoxx 50 index, PowerShares QQQ Trust, series 1
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| Amount: | $3,166,000
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| Maturity: | July 24, 2019
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| Coupon: | 7.5%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any asset declines or has closed by more than 35.5% trigger amount on any day during the life of the notes, in which case 1% loss for every 1% decline of least-performing asset
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| Call: | At par if each asset closes at or above its initial level on any quarterly review date other than final date
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| Initial levels: | 1,573.818 for Russell, 3,486.60 for Stoxx, $164.91 for fund
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| Trigger values: | 1,015.11262 for Russell, 2,248.857 for Stoxx, $106.36695 for fund; 64.5% of initial levels
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| Pricing date: | April 19
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| Settlement date: | April 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.975%
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| Cusip: | 48129MFP6
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