Published on 11/1/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.02 million 6.25% contingent interest autocalls tied to Russell, S&P
By Susanna Moon
Chicago, Nov. 1 – JPMorgan Chase Financial Co. LLC priced $1.02 million of autocallable contingent interest notes due April 27, 2020 linked to the lesser performing of 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 6.25% 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 review date other than the first, second, third, fourth, fifth and final dates.
The payout at maturity will be par unless either index finishes below its initial level and 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 worse 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: | Russell 2000 index and S&P 500 index
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| Amount: | $1,023,000
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| Maturity: | April 27, 2020
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| Coupon: | 6.25% 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 either index finishes initial level and ever dips below 70% trigger, in which case 1% loss for each 1% decline of worse performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than first, second, third, fourth, fifth and final dates
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| Initial levels: | 1,539.501 for Russell, 2,755.88 for S&P
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| Trigger levels: | 1,077.6507 for Russell, 1,929.116 for S&P, 70% 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: | 2.225%
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| Cusip: | 48130U7G4
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