Published on 11/28/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.35 million contingent interest autocalls on Russell, S&P
By Sarah Lizee
Olympia, Wash., Nov. 28 – JPMorgan Chase Financial Co. LLC priced $1.35 million of autocallable contingent interest notes due Feb. 25, 2020 linked to the worst performing of the S&P 500 index and the Russell 2000 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 7.6% 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 May 20, 2019, Aug. 20, 2019 or Nov. 20, 2019.
If the notes are not called, the payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the least 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: | S&P 500, Russell 2000
|
| Amount: | $1,346,000
|
| Maturity: | Feb. 25, 2020
|
| Coupon: | 7.6% annualized, payable monthly if each index closes at or above coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below 70% trigger level, in which case investors will lose 1% for each 1% decline of the least performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on May 20, 2019, Aug. 20, 2019 or Nov. 20, 2019
|
| Initial levels: | 2,641.89 for S&P, 1,469.009 for Russell
|
| Coupon barriers/trigger values: | 1,849.323 for S&P, 1,028.3063 for Russell, 70% of initial levels
|
| Pricing date: | Nov. 20
|
| Settlement date: | Nov. 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.225%
|
| Cusip: | 48130UQ81
|
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