Published on 5/2/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $11.77 million contingent income autocalls on three indexes
By Sarah Lizee
Olympia, Wash., May 2 – JPMorgan Chase Financial Co. LLC priced $11.77 million of contingent income autocallable securities due May 5, 2020 linked to the worst 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 will pay a contingent quarterly coupon at an annual rate of 8.5% if each underlying index closes at or above its 80% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless any index finishes below its 80% threshold level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying assets: | Russell 2000 index, S&P 500 index and Euro Stoxx 50 index
|
| Amount: | $11,766,000
|
| Maturity: | May 5, 2020
|
| Coupon: | 8.5% annualized, payable quarterly if each index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above threshold level, par; otherwise, 1% loss for each 1% decline of worst performing index
|
| Call: | At par if each index closes at or above its initial level on any determination date other than the final date
|
| Initial levels: | 1,598.356 for Russell, 2,943.03 for S&P and 3,501.94 for Stoxx
|
| Threshold levels: | 1,278.6848 for Russell, 2,354.424 for S&P and 2,801.552 for Stoxx, 80% of initial levels
|
| Pricing date: | April 29
|
| Settlement date: | May 2
|
| Underwriter: | J.P. Morgan Securities LLC with Morgan Stanley Wealth Management handling distribution
|
| Fees: | 1.75%
|
| Cusip: | 48132CDB6
|
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