Published on 6/13/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.67 million callable contingent interest notes on Dow, Russell
By Tali Rackner
Minneapolis, June 13 – JPMorgan Chase Financial Co. LLC priced $1.67 million of callable contingent interest notes due June 2, 2023 linked to the Dow Jones industrial average and the Russell 2000 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 quarterly coupon at an annual rate of 6% if each index closes at or above its 75.75% interest barrier on the review date for that quarter.
The notes may be called in whole but not in part on any interest payment date other than the first, second, third and final dates.
The payout at maturity will be par unless either index finishes below its 60% trigger level, in which case investors will lose 1% for each 1% that the least-performing index is less than its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000 index
|
| Amount: | $1,672,000
|
| Maturity: | June 2, 2023
|
| Coupon: | 6% annualized, payable quarterly if each index closes at or above 75.75% interest barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below 60% trigger, in which case 1% loss for each 1% decline of laggard index
|
| Call: | Callable at par on any interest payment date other than first, second, third and final dates
|
| Initial levels: | 24,667.78 for Dow, 1,647.989 for Russell
|
| Interest barriers: | 18,685.84335 for Dow, 1,248.25167 for Russell; 75.75% of initial levels
|
| Trigger values: | 14,800.668 for Dow, 988.7934 for Russell; 60% of initial levels
|
| Pricing date: | May 30
|
| Settlement date: | June 4
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4.025%
|
| Cusip: | 48129MVK9
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
