Published on 1/30/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $150,000 autocallable contingent interest notes on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Jan. 30 – JPMorgan Chase Financial Co. LLC priced $150,000 of autocallable contingent interest notes due May 1, 2020 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 5.7% if each index closes at or above its interest barrier level, 70% of its initial level, 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 first and final ones.
The payout at maturity will be par plus the final coupon, unless either index finishes below the 70% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
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: | Russell 2000, S&P 500
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| Amount: | $150,000
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| Maturity: | May 1, 2020
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| Coupon: | 5.7% annualized, payable quarterly if each underlying index closes at or above coupon barrier level on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon, unless either index finishes below trigger level, in which case 1% loss for each 1% decline of worst performing index from initial level
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than the first and final ones
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| Initial levels: | 2,643.85 for S&P, 1,473.536 for Russell
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| Interest barrier/trigger levels: | 1,850.695 for S&P, 1,031.4752 for Russell; 70% of initial levels
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| Pricing date: | Jan. 28
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| Settlement date: | Jan. 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.65%
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| Cusip: | 48130WRN3
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