Published on 1/18/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $623,000 contingent interest autocalls on S&P, Russell, Stoxx
By Sarah Lizee
Olympia, Wash., Jan. 18 – JPMorgan Chase Financial Co. LLC priced $623,000 of autocallable contingent interest notes due Jan. 22, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 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 8.5% if each index closes at or above its 60% 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 quarterly review date other than the final review date.
The payout at maturity will be par unless any of the indexes finishes below its initial level and any underlying 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
|
| Amount: | $623,000
|
| Maturity: | Jan. 22, 2020
|
| Coupon: | 8.5% annualized, payable quarterly if each index closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below initial level and 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 review date other than final review date
|
| Initial levels: | 2,616.10 for S&P, 1,454.697 for Russell and 3,077.22 for Stoxx
|
| Coupon barriers: | 1,569.66 for S&P, 872.8182 for Russell and 1,846.332 for Stoxx, 60% of initial levels
|
| Trigger levels: | 1,569.66 for S&P, 872.8182 for Russell and 1,846.332 for Stoxx, 60% of initial levels
|
| Pricing date: | Jan. 16
|
| Settlement date: | Jan. 22
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.56116%
|
| Cusip: | 48130WQR5
|
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