Published on 8/3/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $879,000 7.85% contingent yield trigger autocalls on S&P, Russell
By Susanna Moon
Chicago, Aug. 3 – JPMorgan Chase Financial Co. LLC priced $879,000 of trigger autocallable contingent yield notes due July 30, 2021 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 7.85% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if the index closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless either index finishes below its 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the worse performing index.
The notes are guaranteed by JPMorgan Chase & Co.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying assets: | S&P 500 index and Russell 2000 index
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| Amount: | $879,000
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| Maturity: | July 30, 2021
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| Coupon: | 7.85% annualized, payable quarterly if each index closes at or above its 70% coupon barrier on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, 1% loss per 1% decline of worse performing index
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| Call: | At par if each index closes at or above its initial level on any quarterly call date beginning Jan. 28, 2019
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| Initial levels: | 1,663.34 for Russell and 2,818.82 for S&P
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| Downside thresholds: | 1,164.338 for Russell and 1,973.17 for S&P, 70% of initial levels
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| Pricing date: | July 27
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| Settlement date: | July 31
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48129N377
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