Published on 12/27/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $549,000 callable contingent interest notes on indexes
By Sarah Lizee
Olympia, Wash., Dec. 27 – JPMorgan Chase Financial Co. LLC priced $549,000 of callable contingent interest notes due Dec. 31, 2024 linked to the least performing of the S&P 500 index, the Dow Jones Industrial Average and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a semiannual contingent coupon at an annual rate of 9.8% if each index closes at or above its interest barrier level, 75% of its initial level, on the review date that period.
The notes may be called at par plus the coupon in whole but not in part on any interest payment date except the final payment date.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its trigger level, 75% of its initial level, in which case investors will lose 1% for every 1% decline of the least-performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | S&P 500 index, Dow Jones Industrial Average and Russell 2000 index
|
| Amount: | $549,000
|
| Maturity: | Dec. 31, 2024
|
| Coupon: | 9.8%, payable semiannually if each index closes at or above coupon barrier level on review date that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its trigger level, in which case 1% loss for every 1% decline of least-performing index from initial level
|
| Call: | Callable at par plus coupon on any quarterly review date other than final date
|
| Initial levels: | 22,445.37 for Dow, 1,292.086 for Russell and 2,416.62 for S&P
|
| Coupon barrier/triggers: | 16,834.0275 for Dow, 969.0645 for Russell 2000 and 1,812.465 for S&P; 75% of initial levels
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48130WLY5
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
