Published on 5/23/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.29 million autocallable yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, May 23 – JPMorgan Chase Financial Co. LLC priced $2.29 million of autocallable yield notes due Aug. 26, 2019 linked to the worst performing of the Russell 2000 index, Nasdaq-100 index and Euro Stoxx 50 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 6.5% per year, and interest will be payable monthly.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless any index closes below its trigger level, 67.5% of its initial level, on any day during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the least-performing index declines below its initial level.
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, Nasdaq-100 and Euro Stoxx 50
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| Amount: | $2.29 million
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| Maturity: | Aug. 26, 2019
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| Coupon: | 6.5%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below initial level and any index closes below trigger level during life of notes, in which case 1% loss for every 1% decline of worst performing index from initial level
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| Call: | At par if each index closes at or above the initial level on any quarterly review date other than final date
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| Initial levels: | 6,905.532 for Nasdaq, 1,637.442 for Russell, 3,572.57 for Euro Stoxx
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| Trigger levels: | 4,661.2341 for Nasdaq, 1,105.27335 for Russell, 2,411.48475 for Euro Stoxx; 67.5% of initial levels
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| Pricing date: | May 21
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| Settlement date: | May 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.975%
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| Cusip: | 48129MSV9
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