Published on 4/3/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.25 million autocallable yield notes on Russell, S&P
By Sarah Lizee
Olympia, Wash., April 3 – JPMorgan Chase Financial Co. LLC sold $1.25 million of 6.5% autocallable yield notes due June 30, 2020 linked to the worst 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 will be guaranteed by JPMorgan Chase & Co.
Interest rate will payable monthly.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par unless either index closes below its trigger level, 70% of its initial level, on any day during the life of the notes and the return of the least-performing index is negative, in which case investors will lose 1% for every 1% that the least-performing index finishes below 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 yield notes
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Underlying indexes: | Russell 2000 and S&P 500
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Amount: | $1,247,000
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Maturity: | June 30, 2020
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Coupon: | 6.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless either index ever closes below trigger level and return of least-performing index is negative, in which case 1% loss for every 1% decline of worse performing index from initial level
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Call: | At par if each index closes at or above the initial level on any quarterly review date other than the final one
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Initial levels: | 1,539.739 for Russell, 2,834.40 for S&P 500
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Trigger levels: | 1,077.8173 for Russell, 1,984.08 for S&P 500, 70% of initial levels
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Pricing date: | March 29
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Settlement date: | April 3
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.40678%
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Cusip: | 48130W4D0
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