Published on 6/12/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $430,000 contingent interest autocallables linked to Russell, S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, June 12 – JPMorgan Chase Financial Co. LLC priced $430,000 of autocallable contingent interest notes due Dec. 30, 2020 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, 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 6.5% per year if each index closes at or above its trigger value, 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 dates.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its initial level and any index closes below the trigger value during the life of the notes, 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 contingent interest notes
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| Underlying indexes: | Russell 2000, S&P 500 and Dow Jones industrial average
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| Amount: | $430,000
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| Maturity: | Dec. 30, 2020
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| Coupon: | 6.5% per year, payable monthly if each index closes at or above trigger value on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its initial level and any index closes below the trigger value during the life of the notes, in which case 1% loss for every 1% that least-performing index finishes below initial level
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| 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 dates
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| Initial index levels: | 1,485.531 for Russell 2000, 2,788.86 for S&P 500 and 25,169.88 for Dow
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| Trigger values: | 1,039.8717 for Russell 2000, 1,952.202 for S&P 500 and 17,618.916 for Dow, or 70% of initial levels
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| Pricing date: | May 30
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| Settlement date: | June 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48132CB85
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