Published on 10/17/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.88 million contingent interest autocalls on indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 17 – JPMorgan Chase Financial Co. LLC priced $1.88 million of autocallable contingent interest notes due Jan. 8, 2020 linked to the least performing of the Nasdaq-100 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 monthly coupon at an annual rate of 9.05% if each index closes at or above its 70% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly autocall review date.
The payout at maturity will be par unless any index finishes its initial level and any index ever closes below its 70% 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $1.88 million
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| Maturity: | Jan. 8, 2020
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| Coupon: | 9.05% annualized, payable monthly if each index closes at or above 70% coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below initial level and any index ever closes below 70% 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 autocall review
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| Initial levels: | 1,671.294 for Russell, 2,925.51 for S&P, 7,637.426 for Nasdaq
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| Coupon barrier/triggers: | 1,057.424 for Russell, 1,822.707 for S&P, 4,772.2973 for Nasdaq, 70% of initial levels
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| Pricing date: | Oct. 3
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| Settlement date: | Oct. 9
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.70306%
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| Cusip: | 48130U3N3
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