Published on 5/16/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.25 million autocallable yield notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, May 16 – JPMorgan Chase Financial Co. LLC priced $1.25 million of autocallable yield notes due May 16, 2019 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 will be guaranteed by JPMorgan Chase & Co.
The interest rate will be 6.25% per year, payable monthly.
The notes will be automatically called at par if each index closes at or above its initial level on Feb. 11, 2019.
The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its 70% trigger level, in which case investors will be fully exposed to the decline of the lesser performing index.
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 indexes: | Russell 2000 and S&P 500
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Amount: | $1,248,000
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Maturity: | May 16, 2019
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Coupon: | 6.25%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless either index finishes below its initial level and either index ever closes below 70% trigger level, in which case full exposure to decline of lesser performing index
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Call: | At par if each index closes at or above initial level on Feb. 11, 2019
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Initial levels: | 2,727.72 for S&P, 1,606.792 for Russell
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Trigger levels: | 1,909.404 for S&P, 1,124.7544 for Russell: 70% of initial levels
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Pricing date: | May 11
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Settlement date: | May 16
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.6%
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Cusip: | 48129MSE7
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