Published on 6/27/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.15 million contingent interest autocallables linked to Russell, S&P, Euro Stoxx
By Angela McDaniels
Tacoma, Wash., June 27 – JPMorgan Chase Financial Co. LLC priced $1.15 million of autocallable contingent interest notes due June 30, 2022 linked to the least 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 are guaranteed by JPMorgan Chase & Co.
Each quarter, 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 quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the first, second, third and final review dates.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its trigger value, 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: | Russell 2000, S&P 500 and Euro Stoxx 50
|
| Amount: | $1,151,000
|
| Maturity: | June 30, 2022
|
| Coupon: | 6.5% per year, payable quarterly if each index closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below trigger value, 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 quarterly review date other than first, second, third and final ones
|
| Initial levels: | 1,521.035 for Russell 2000, 2,917.38 for S&P 500 and 3,444.36 for Euro Stoxx 50
|
| Trigger values: | 1,064.7245 for Russell 2000, 2,042.166 for S&P 500 and 2,411.052 for Euro Stoxx 50, or 70% of initial levels
|
| Pricing date: | June 25
|
| Settlement date: | June 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 48132CQT3
|
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