Published on 1/4/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $436,000 contingent interest autocalls on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Jan. 4 – JPMorgan Chase Financial Co. LLC priced $436,000 of autocallable contingent interest notes due Dec. 29, 2023 linked to the lesser performing of the Nasdaq-100 index and the Russell 2000 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 9% if each index closes at or above its 70% coupon barrier on the review 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 first, second, third and final dates.
The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse 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
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| Underlying indexes: | Nasdaq-100 index and Russell 2000 index
|
| Amount: | $436,000
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| Maturity: | Dec. 29, 2023
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| Coupon: | 9% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below 70% trigger, in which case 1% loss for each 1% decline of worse performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than first, second, third and final dates
|
| Initial levels: | 6,288.302 for Nasdaq, 1,331.817 for Russell 2000
|
| Trigger levels: | 4,401.811 for Nasdaq, 932.2719 for Russell 2000, 70% of initial levels
|
| Pricing date: | Dec. 27
|
| Settlement date: | Jan. 2
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.77208%
|
| Cusip: | 48130WHF1
|
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