Published on 3/14/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.18 million contingent interest autocallables on three indexes
By Marisa Wong
Morgantown, W.Va., March 14 – JPMorgan Chase Financial Co. LLC priced $2.18 million of autocallable contingent interest notes due Feb. 28, 2020 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 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 6% if each index closes at or above its 60% coupon barrier on the related quarterly review date.
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 date.
The payout at maturity will be par unless any index falls by more than 40%, in which case investors will be exposed to any decline of the worst performing index.
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 and Euro Stoxx 50
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| Amount: | $2,183,000
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| Maturity: | Feb. 28, 2020
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| Coupon: | 6% per year, payable each quarter that each index closes at or above its coupon barrier on the related quarterly review date
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below trigger level, in which case 1% loss per 1% decline of the worst performing index
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| Call: | Automatically 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 date
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| Initial levels: | 1,575.549 for Russell, 2,784.49 for S&P and 3,298.26 for Stoxx
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| Coupon barriers: | 945.3294 for Russell, 1,670.694 for S&P and 1,978.956 for Stoxx; 60% of initial levels
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| Trigger levels: | 945.3294 for Russell, 1,670.694 for S&P and 1,978.956 for Stoxx; 60% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 5
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.44126%
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| Cusip: | 48130WVH1
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