Published on 6/13/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.2 million contingent interest autocalls tied to indexes, fund
By Wendy Van Sickle
Columbus, Ohio, June 13 – JPMorgan Chase Financial Co. LLC priced $1.2 million of autocallable contingent interest notes due Sept. 10, 2019 linked to the worst performing of the Euro Stoxx 50 index, the Russell 2000 index and the Invesco QQQ Trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.35% if each underlying asset closes at or above its 70% coupon barrier on the review date.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly autocall review date.
The payout at maturity will be par unless any underlying asset finishes below 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index or fund.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying assets: | Euro Stoxx 50 index, Russell 2000 index, Invesco QQQ trust, series 1
|
| Amount: | $1,202,000
|
| Maturity: | Sept. 10, 2019
|
| Coupon: | 6.35% annualized, payable monthly if each asset closes at or above coupon barrier on review date
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below initial level and any asset ever closes below trigger, in which case 1% loss for each 1% decline of worse performing index or fund
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly autocall review date
|
| Initial levels: | 3,456.79 for Stoxx, 1,664.625 for Russell and $174.84 for fund
|
| Coupon barrier/triggers: | 2,419.753 for Stoxx, 1,165.2375 for Russell and $122.388 for fund, 70% of initial levels
|
| Pricing date: | June 5
|
| Settlement date: | June 8
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.175%
|
| Cusip: | 48129MVQ6
|
|
|
© 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.
