Published on 12/19/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.89 million contingent income autocalls on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 19 – JPMorgan Chase Financial Co. LLC priced $1.89 million of contingent income autocallable securities due June 18, 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 8.55% if each index closes at or above its 75% coupon barrier on the observation date for that quarter.
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.
The payout at maturity will be par unless any underlying index finishes below its 75% downside threshold, 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 with Morgan Stanley Smith Barney LLC as the dealer.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Contingent income autocallable securities
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Underlying indexes: | Russell 20000 index and S&P 500 index
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Amount: | $1,892,000
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Maturity: | June 18, 2020
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Coupon: | 8.55% annualized, payable quarterly if each index closes at or above coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | If any index finishes at or above downside threshold, 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 review date other than final date
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Initial levels: | 1,410.813 for Russell and 2,599.95 for S&P
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Coupon barriers: | 1,958.10975 for Russell and 1,949.9625 for S&P, 75% of initial levels
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Downside thresholds: | 1,958.10975 for Russell and 1,949.9625 for S&P, 75% of initial levels
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Pricing date: | Dec. 14
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Settlement date: | Dec. 19
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 48130WGU9
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