Published on 9/11/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.41 million callable contingent interest notes on Dow, Russell
By Wendy Van Sickle
Columbus, Ohio, Sept. 11 – JPMorgan Chase Financial Co. LLC priced $1.41 million of callable contingent interest notes due Sept. 4, 2025 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 6.75% if each index closes at or above its 65% 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 65% 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.
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| Issue: | Callable contingent interest notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index
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| Amount: | $1,413,000
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| Maturity: | Sept. 4, 2025
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| Coupon: | 6.75% annualized, payable quarterly if each index closes at or above interest barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below 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: | 26,124.57 for Dow, 1,734.749 for Russell
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| Interest barriers/triggers: | 16,980.9705 for Dow, 1,127.5869 for Russell; 65% of initial levels
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| Pricing date: | Aug. 29
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| Settlement date: | Aug. 31
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 48130UBS3
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