Published on 3/28/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.95 million contingent interest autocalls tied to two indexes
By Wendy Van Sickle
Columbus, Ohio, March 28 – JPMorgan Chase Financial Co. LLC priced $1.95 million of autocallable contingent interest notes due March 28, 2028 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 6% if each index closes at or above its 65% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each index closes at or above105% of its initial level on any review date other than the first through fifth and final dates.
The payout at maturity will be par unless either index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by JPMorgan Chase & Co.
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
|
| Amount: | $1.95 million
|
| Maturity: | March 28, 2028
|
| Coupon: | 6% annualized, payable monthly if each index closes at or above 65% coupon barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes 60% trigger, in which case 1% loss for each 1% decline of worse performing index
|
| Call: | At par plus contingent coupon if each index closes at or above 105% of initial level on any quarterly review date other than first through fifth and final dates
|
| Initial levels: | 1,510.083 for Russell, 2,588.26 for S&P
|
| Coupon barriers: | 981.55395 for Russell, 1,682.369 for S&P, 65% of initial levels
|
| Trigger levels: | 906.0498 for Russell, 1,552.956 for S&P, 60% of initial levels
|
| Pricing date: | March 23
|
| Settlement date: | March 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.125%
|
| Cusip: | 48129MCD6
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
