Published on 1/9/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.59 million 7.5% autocallable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Jan. 9 – JPMorgan Chase Financial Co. LLC priced $4.59 million of 7.5% autocallable yield notes due Jan. 3, 2019 linked to the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date after six months.
If the notes are not called, the payout at maturity will be par unless any index finishes below its initial level and any index has closed below its trigger level, 70% of its initial level, any day during the life of the notes, in which case investors will be fully exposed to the decline of the least-performing index.
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: | Euro Stoxx 50, S&P 500, Russell 2000
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| Amount: | $4.59 million
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| Maturity: | Jan. 3, 2019
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| Coupon: | 7.5%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below initial level and any index closes below trigger level during life of notes, in which case 1% loss for each 1% decline of the worst-performing index
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| Call option: | At par if each index closes at or above its initial level on any quarterly review date after six months
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| Initial index levels: | 3,553.39 for Euro Stoxx, 2,683.34 for S&P, 1,542.925 for Russell
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| Trigger levels: | 2,467.017 for Euro Stoxx, 1,881.278 for S&P, 1,084.2482 for Russell, 70% of initial levels
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| Pricing date: | Dec. 28
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| Settlement date: | Jan. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48129HUV7
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