Published on 6/20/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1 million contingent interest autocalls tied to Russell, Stoxx, S&P
By Wendy Van Sickle
Columbus, Ohio, June 20 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due June 18, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.6% if each index closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless any index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
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 indexes: | Russell 2000, Euro Stoxx 50, S&P 500
|
Amount: | $1 million
|
Maturity: | June 18, 2020
|
Coupon: | 7.6% annualized, payable quarterly if each index closes at or above coupon barrier on review date
|
Price: | Par
|
Payout at maturity: | Par unless any index finishes below trigger, in which case 1% loss for each 1% decline of worst performing index
|
Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than final date
|
Initial levels: | 1,683.908 for Russell, 2,779.66 for S&P, 3,505.02 for Stoxx
|
Coupon barriers: | 1,178.7356 for Russell, 1,945.762 for S&P, 2,453.514 for Stoxx, 70% of initial levels
|
Trigger levels: | 1,178.7356 for Russell, 1,945.762 for S&P, 2,453.514 for Stoxx, 70% of initial levels
|
Pricing date: | June 15
|
Settlement date: | June 20
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 0.65%
|
Cusip: | 48129M2V7
|
|
© 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.