Published on 9/25/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.49 million 7.2% contingent yield autocalls on Stoxx 600, Russell
By Susanna Moon
Chicago, Sept. 25 – JPMorgan Chase Financial Co. LLC priced $2.49 million of trigger autocallable contingent yield notes due Sept. 19, 2023 linked to the lesser performing of the Russell 2000 index and the Stoxx Europe 600 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 7.2% 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 each asset closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless either index finishes below its 70% trigger 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: | J.P. Morgan Securities LLC
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000, Stoxx Europe 600
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| Amount: | $2,487,000
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| Maturity: | Sept. 19, 2023
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| Coupon: | 7.2% 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 each quarterly observation date beginning Sept. 16, 2019
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| Initial levels: | 1,721.719 for Russell, 377.85 for Stoxx
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| Trigger levels: | 1,205.203 for Russell, 264.50 for Stoxx; 70% of initial levels
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| Pricing date: | Sept. 14
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| Settlement date: | Sept. 19
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48130V749
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