Published on 10/5/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.17 million contingent interest autocalls on Stoxx, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Oct. 5 – JPMorgan Chase Financial Co. LLC priced $1.17 million of autocallable contingent interest notes due Sept. 30, 2021 linked to the least performing of the Euro Stoxx 50 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 7.75% 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 first and final dates.
The payout at maturity will be par unless any index ever closes below its 70% trigger level during the life of the notes, 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.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
|
| Amount: | $1,168,000
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| Maturity: | Sept. 30, 2021
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| Coupon: | 7.75% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index ever closes below 70% 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 review date other than first and final dates
|
| Initial levels: | 3,399.2 for Stoxx, 1,696.571 for Russell and 2,913.98 for S&P
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| Trigger levels: | 2,379.44 for Stoxx, 1,187.5997 for Russell and 2,039.786 for S&P, 70% of initial levels
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| Pricing date: | Sept. 28
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| Settlement date: | Oct. 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.68664%
|
| Cusip: | 48130UFP5
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