Published on 10/19/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $500,000 callable contingent interest notes tied to two indexes, one ETF
By Wendy Van Sickle
Columbus, Ohio, Oct. 19 – JPMorgan Chase Financial Co. LLC priced $500,000 of callable contingent interest notes due Oct. 8, 2021 linked to the least performing of the iShares MSCI Emerging Markets ETF, 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 8.2% if each asset closes at or above its 70% interest barrier on the review date for that quarter.
The notes will be callable at par plus any contingent coupon due on any review date other than the first and final dates.
The payout at maturity will be par unless any asset finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worst performing asset.
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: | Callable contingent interest notes
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| Underlying assets: | iShares MSCI Emerging Markets ETF, Russell 2000 index and S&P 500 index
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| Amount: | $500,000
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| Maturity: | Oct. 8, 2021
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| Coupon: | 8.2% annualized, payable quarterly if each asset closes at or above 70% interest barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes 50% trigger, in which case 1% loss for each 1% decline of worst performing asset
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| Call: | Callable at par plus any contingent coupon due on any review date other than first and final dates
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| Initial levels: | $40.90 for ETF, 1,629.515 for Russell and 2,884.43for S&P
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| Interest barriers: | $28.63 for ETF, 1,140.6605 for Russell and 2,019.101 for S&P, 70% of initial levels
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| Trigger levels: | $20.45 for ETF, 814.7575 for Russell and 1,442.215 for S&P, 50% of initial levels
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| Strike date: | Oct. 8
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| Pricing date: | Oct. 9
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| Settlement date: | Oct. 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48130U6E0
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