Published on 5/31/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $99,000 autocallable yield notes on Russell, Stoxx
By Sarah Lizee
Olympia, Wash., May 31 – JPMorgan Chase Financial Co. LLC sold $99,000 of 5.5% autocallable yield notes due Nov. 30, 2020 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest will payable monthly.
After six months, 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 Euro Stoxx 50
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| Amount: | $99,000
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| Maturity: | Nov. 30, 2020
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| Coupon: | 5.5%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless either index ever closes below its trigger level during the life of the notes and return of least-performing index is negative, in which case 1% loss for every 1% decline of worse performing index from initial level
|
| Call: | After six months, 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: | 1,504.019 for Russell and 3,348.86 for Stoxx
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| Trigger levels: | 1,052.8133 for Russell and 2,344.202 for Stoxx, 70% of initial levels
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| Pricing date: | May 28
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| Settlement date: | May 31
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.12121%
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| Cusip: | 48132CGM9
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