Published on 4/5/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.03 million contingent interest autocalls on indexes, fund
By Wendy Van Sickle
Columbus, Ohio, April 5 – JPMorgan Chase Financial Co. LLC priced $2.03 million of autocallable contingent interest notes due April 2, 2024 tied to the least performing of the SPDR S&P Oil & Gas Exploration & Production ETF, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.25% if each underlying asset closes at or above its 70% coupon barrier on the coupon review date for that month.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly autocall review date after one year.
The payout at maturity will be par unless any underlier finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index or fund.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying assets: | SPDR S&P Oil & Gas Exploration & Production ETF, Russell 2000 index and S&P 500 index
|
| Amount: | $2,029,000
|
| Maturity: | April 2, 2024
|
| Coupon: | 8.25% per year, payable monthly if each asset closes at or above coupon barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each asset finishes at or above trigger value; otherwise, exposure to decline of least-performing asset from initial level
|
| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial price on any quarterly autocall review date after one year
|
| Initial levels: | $30.62 for ETF, 1,522.231 for Russell and 2,805.37 for S&P
|
| Coupon barriers: | $21.434 for ETF, 1,065.5617 for Russell and 1,963.759 for S&P; 70% of initial levels
|
| Trigger values: | $18.372 for ETF, 913.3386 for Russell and 1,683.222 for S&P; 60% of initial levels
|
| Pricing date: | March 27
|
| Settlement date: | April 1
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4.125%
|
| Cusip: | 48130WN49
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
