Published on 6/4/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $520,000 contingent interest autocalls on index, fund
By Sarah Lizee
Olympia, Wash., June 4 – JPMorgan Chase Financial Co. LLC priced $520,000 of autocallable contingent interest notes due June 3, 2022 tied to the least performing of the SPDR S&P Oil & Gas Exploration & Production ETF and the Russell 2000 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 9% if each underlying asset closes at or above its 60% coupon barrier on the coupon review date for that quarter.
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 other than the first and final ones.
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
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying assets: | SPDR S&P Oil & Gas Exploration & Production ETF, Russell 2000 index
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Amount: | $520,000
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Maturity: | June 3, 2022
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Coupon: | 9% per year, payable quarterly if each asset closes at or above coupon barrier on review date for that quarter
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Price: | Par
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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
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Call: | Automatically at par plus contingent coupon if each asset closes at or above initial price on any quarterly autocall review date other than the first and final ones
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Initial levels: | 1,489.952 for index, $26.85 for fund
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Coupon barriers: | 893.9712 for index, $16.11 for fund, 60% of initial levels
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Trigger values: | 893.9712 for index, $16.11 for fund, 60% of initial levels
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Pricing date: | May 29
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Settlement date: | May 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 48132CNN9
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