Published on 11/1/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.31 million 6.85% yield autocalls tied to Nasdaq, Russell, Stoxx
By Susanna Moon
Chicago, Nov. 1 – JPMorgan Chase Financial Co. LLC priced $3.31 million of 6.85% autocallable yield notes due Jan. 27, 2020 linked to the least performing of the Russell 2000 index, the Euro Stoxx 50 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each index closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless any index ever closes below its 68% 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable yield notes
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| Underlying indexes: | Nasdaq-100, Euro Stoxx 50, Russell 2000
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| Amount: | $3,305,000
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| Maturity: | Jan. 27, 2020
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| Coupon: | 6.85% annualized, payable monthly
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| Price: | Par
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| Payout at maturity: | If each index never closes below 68% trigger level, par; otherwise, 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 review date other than final date
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| Initial levels: | 7,141.213 for Nasdaq, 1,539.501 for Russell and 3,190.09 for Stoxx
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| Trigger levels: | 4,856.02484 for Nasdaq, 1,046.86068 for Russell and 2,169.2612 for Stoxx, 68% of initial levels
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| Pricing date: | Oct. 22
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| Settlement date: | Oct. 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.975%
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| Cusip: | 48130U4V4
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