Published on 12/27/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.71 million contingent interest autocalls on Stoxx, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Dec. 27 – JPMorgan Chase Financial Co. LLC priced $1.71 million of autocallable contingent interest notes due Dec. 26, 2023 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the Nasdaq-100 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 7.5% if each index closes at or above its 70% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly autocall review date.
The payout at maturity will be par unless any index ever closes below its 60% trigger level during the life of the notes, 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.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index and Nasdaq-100 index
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| Amount: | $1,708,000
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| Maturity: | Dec. 26, 2023
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| Coupon: | 7.5% annualized, payable monthly if each index closes at or above 70% coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index ever closes below 60% trigger, in which case 1% loss for each 1% decline of worst performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly autocall review date
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| Initial levels: | 3,000.06 for Stoxx, 1,326.002 for Russell and 6,243.195 for Nasdaq
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| Coupon barriers: | 2,100.042 for Stoxx, 928.2014 for Russell and 4,370.2365 for Nasdaq, 70% of initial levels
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| Trigger levels: | 1,800.036 for Stoxx, 795.6012 for Russell and 3,745.917 for Nasdaq, 60% of initial levels
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 4.125%
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| Cusip: | 48130WKU4
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