Published on 3/14/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $742,000 of 7.65% contingent interest autocalls tied to indexes, ETF
New York, March 14 – JPMorgan Chase Financial Co. LLC priced $742,000 of 7.65% autocallable contingent interest notes due Sept. 12, 2019 linked to the least performing of the Russell 2000 index, the S&P 500 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.65% if each asset closes at or above its 60% interest barrier on the 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 review date other than the final date.
The payout at maturity will be par unless any asset finishes below its initial level and ever closes below its 60% trigger value during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index.
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: | Russell 2000, S&P 500 and iShares MSCI Emerging Markets ETF
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| Amount: | $742,000
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| Maturity: | Sept. 12, 2019
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| Coupon: | 7.65% annualized, payable quarterly if each asset closes at or above 60% interest barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below initial level and ever closes below 60% trigger value, in which case 1% loss for each 1% decline of worst performing asset
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| Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly review date other than final date
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| Initial index levels: | $49.75 for ETF, 1,597.142 for Russell 2000 and 2,786.57 for S&P 500
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| Interest barriers: | $29.85 for ETF, 958.2852 for Russell 2000 and 1,671.942 for S&P 500; 60% of initial levels
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| Trigger values: | $29.85 for ETF, 958.2852 for Russell 2000 and 1,671.942 for S&P 500; 60% of initial levels
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| Pricing date: | March 9
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| Settlement date: | March 14
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48129MCT1
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