Published on 2/28/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.39 million autocallable contingent buffered equity notes on Russell, Nasdaq, S&P
By Wendy Van Sickle
Columbus, Ohio, Feb. 28 – JPMorgan Chase & Co. priced $1.39 million of 0% autocallable contingent buffered equity notes due Feb. 28, 2022 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 10% annual call premium if each index closes at or above its initial level on any semiannual review date other than the final date.
If each index finishes above its initial level, the payout at maturity will be par plus the gain.
If the either index falls but by no more than 40%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent buffered equity notes
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| Underlying indexes: | S&P 500, Nasdaq-100 and Russell 2000
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| Amount: | $1,386,000
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| Maturity: | Feb. 28, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above its initial level, par plus gain; if either index falls by up to 40%, par; otherwise, 1% loss for each 1% decline of least-performing index from initial level
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| Call: | At par plus 10% annual call premium if each index closes at or above initial level on any semiannual review date other than the final date
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| Initial levels: | 7,115.426 for Nasdaq, 1,588.805 for Russell and 2,796.11 for S&P
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| Pricing date: | Feb. 25
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| Settlement date: | Feb. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48130WWA5
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