Published on 1/10/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $7.92 million contingent coupon autocallables linked to three indexes
By Angela McDaniels
Tacoma, Wash., Jan. 10 – JPMorgan Chase Financial Co. LLC priced $7.92 million of contingent coupon autocallable yield notes due Jan. 13, 2021 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes pay a contingent coupon at the rate of 15% per year if each index closes at or above its trigger value, 79% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date other than the final one.
If the notes are not called, the payout at maturity will be par unless any index finishes below its trigger value, in which case investors will have one-to-one exposure to the decline of the least-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Nasdaq-100
|
| Amount: | $7,916,000
|
| Maturity: | Jan. 13, 2021
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| Coupon: | 15% per year, payable quarterly if each index closes at or above trigger value on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below trigger value, in which case one-to-one exposure to decline of least-performing index
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly observation date other than final one
|
| Initial index levels: | 2,574.41 for S&P 500, 1,426.552 for Russell 2000 and 6,551.847 for Nasdaq-100
|
| Trigger values: | 2,033.7839 for S&P 500, 1,126.97608 for Russell 2000 and 5,175.95913 for Nasdaq-100; 79% of initial levels
|
| Pricing date: | Jan. 8
|
| Settlement date: | Jan. 11
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48130WRB9
|
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