Published on 11/5/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $4.93 million contingent interest autocalls on Russell, S&P
By Sarah Lizee
Olympia, Wash., Nov. 5 – JPMorgan Chase Financial Co. LLC priced $4.93 million of autocallable contingent interest notes due Jan. 31, 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 quarterly coupon at an annual rate of 9.25% if each index closes at or above its 70% coupon barrier on the review date for that period.
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 final date.
If the notes are not called, the payout at maturity will be par unless either index declines by more than 30%, in which case investors will lose 1% for each 1% decline of the lesser 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.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Russell 2000 index and S&P 500 index
|
| Amount: | $4,926,000
|
| Maturity: | Jan. 31, 2020
|
| Coupon: | 9.25% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index declines by more than 30%, in which case investors will lose 1% for each 1% decline of the lesser performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than final date
|
| Initial levels: | 1,511.413 for Russell, 2,711.74 for S&P
|
| Coupon barriers/trigger values: | 1,057.9891 for Russell, 1,898.218 for S&P, 70% of initial levels
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.625%
|
| Cusip: | 48130U2T1
|
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