Published on 12/27/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.48 million contingent coupon callable yield notes on indexes
By Sarah Lizee
Olympia, Wash., Dec. 27 – JPMorgan Chase Financial Co. LLC priced $2.48 million of contingent coupon callable yield notes due Dec. 27, 2019 linked to the least performing of the S&P 500 index, the Russell 2000 index and the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes pay a contingent quarterly coupon at an annual rate of 9.16% if each asset closes above its 70% coupon barrier on the observation date for that quarter.
The notes may be called on any contingent interest payment date other than the final date.
If the notes are not called, the payout at maturity will be par unless any asset finishes below its 65% trigger value, in which case investors will be fully exposed to the decline of the least performing asset.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying assets: | S&P 500 index, the Russell 2000 index and the MSCI EAFE index
|
| Amount: | $2,478,000
|
| Maturity: | Dec. 27, 2019
|
| Coupon: | 9.16% per year, payable quarterly if each asset closes at or above the coupon barrier on quarterly determination date
|
| Price: | Par
|
| Payout at maturity: | If final level of each asset is greater than or equal to downside threshold, par plus final contingent coupon; otherwise, 1% loss for every 1% that final level of least performing asset is less than initial level
|
| Call: | Callable on any interest payment date other than final date
|
| Initial levels: | 2,416.62 for S&P, 1,292.086 for Russell and 1,706.01 for MSCI EAFE
|
| Coupon barriers: | 1,691.634 for S&P, 904.4602 for Russell and 1,194.207 for MSCI EAFE, 70% of initial levels
|
| Trigger levels: | 1,570.803 for S&P, 839.8559 for Russell and 1,108.9065 for MSCI EAFE, 65% of initial levels
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 48130WMM0
|
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