Published on 1/25/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.25 million of 6% autocallable yield notes on indexes
By Tali Rackner
Minneapolis, Jan. 25 – JPMorgan Chase Financial Co. LLC priced $2.25 million of 6% autocallable yield notes due July 23, 2019 linked to 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.
Interest is payable quarterly.
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 date.
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, 67.6% 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: | Russell 2000, S&P 500 and Euro Stoxx 50
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| Amount: | $2.25 million
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| Maturity: | July 23, 2019
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| Coupon: | 6%, payable quarterly
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| Price: | Par of $1,000
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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 least-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 other than the final date
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| Initial index levels: | 1,576.729 for Russell, 2,798.03 for S&P, 3,620.91 for Euro Stoxx
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| Trigger values: | 1,065.8688 for Russell, 1,891.46828 for S&P, 2,447.73516 for Euro Stoxx, 67.6% of initial levels
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| Pricing date: | Jan. 18
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| Settlement date: | Jan. 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.175%
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| Cusip: | 48129HN78
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