Published on 4/22/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.59 million contingent interest autocallables on indexes
By Sarah Lizee
Olympia, Wash., April 22 – JPMorgan Chase Financial Co. LLC priced $1.59 million of autocallable contingent interest notes due Oct. 22, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 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.
Each month, the notes will pay a contingent coupon at the rate of 5.8% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date other than the first, second, third, fourth, fifth and final review dates.
If the notes have not been called, the payout at maturity will be par unless any index finishes below 70% of its initial level, 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
|
| Amount: | $1,587,000
|
| Maturity: | Oct. 22, 2020
|
| Coupon: | 5.8% per year, payable monthly if each index closes at or above coupon barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its trigger level, in which case 1% loss for every 1% that least-performing index finishes below initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly review date other than the first, second, third, fourth, fifth and final review dates
|
| Initial index levels: | 1,567.597 for Russell, 2,900.45 for S&P and 3,477.73 for Stoxx
|
| Coupon barriers: | 1,097.3179 for Russell, 2,030.315 for S&P and 2,434.411 for Stoxx; 70% of initial levels
|
| Trigger levels: | 1,097.3179 for Russell, 2,030.315 for S&P and 2,434.411 for Stoxx; 70% of initial levels
|
| Pricing date: | April 17
|
| Settlement date: | April 22
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.225%
|
| Cusip: | 48132CBH5
|
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