Published on 6/20/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $7 million 8.6% contingent interest autocalls tied to three indexes
By Wendy Van Sickle
Columbus, Ohio, June 20 – JPMorgan Chase Financial Co. LLC priced $7 million of autocallable contingent interest notes due June 18, 2020 linked to the lesser performing of the Euro Stoxx Banks index, the Russell 2000 index and the S&P 500 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 8.6% if each index closes at or above its 65% 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 65% 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Euro Stoxx Banks index, Russell 2000 index, S&P 500 index
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| Amount: | $7 million
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| Maturity: | June 18, 2020
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| Coupon: | 8.6% annualized, payable quarterly if each index closes at or above 65% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below 65% trigger, in which case 1% loss for each 1% decline of worst performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than the final date
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| Initial levels: | 111.98 for Stoxx, 1,683.908 for Russell and 2,779.66.for S&P
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| Trigger levels: | 72.787 for Stoxx, 1,094.5402 for Russell and 1,806.779 for S&P, 65% of initial levels
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| Pricing date: | June 15
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| Settlement date: | June 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48129M3C8
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