Published on 3/20/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.25 million autocallable contingent interest notes on three indexes
By Sarah Lizee
Olympia, Wash., March 20 – JPMorgan Chase Financial Co. LLC priced $1.25 million of autocallable contingent interest notes due June 23, 2020 linked to the least performing of the Nasdaq-100 index, 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 5.6% 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 first and final dates.
The payout at maturity will be par unless any index finishes below its initial level and either index closes below its 60% trigger level on any day during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index.
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: | Nasdaq-100, Russell 2000 and S&P 500
|
| Amount: | $1.25 million
|
| Maturity: | June 23, 2020
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| Coupon: | 5.6% per year, payable each quarter that each index closes at or above its coupon barrier on the related quarterly review date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its initial level and either index closes below its trigger level on any day during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index
|
| 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 first and final dates
|
| Initial levels: | 7,326.282 for Nasdaq, 1,563.932 for Russell and 2,832.94 for S&P
|
| Coupon barriers: | 4,395.7692 for Nasdaq, 938.3592 for Russell and 1,699.764 for S&P; 60% of initial levels
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| Trigger levels: | 4,395.7692 for Nasdaq, 938.3592 for Russell and 1,699.764 for S&P; 60% of initial levels
|
| Pricing date: | March 18
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| Settlement date: | March 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.4%
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| Cusip: | 48130WH79
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