Published on 4/17/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $10.96 million autocallable yield notes on S&P, Russell
New York, April 17 – JPMorgan Chase Financial Co. LLC priced $10.96 million of autocallable yield notes due Oct. 17, 2019 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The interest rate will be 6.5% per year, payable semi-annually.
The notes will be automatically called at par if each index closes at or above its strike level on the quarterly review dates of Oct. 11, 2018, April 11, 2019 and Oct. 11, 2019. The strike level is the closing level of the index on its strike date, April 11.
The payout at maturity will be par unless either index declines by more than the 20% buffer amount, in which case investors will lose 1.25% for every 1% that the lesser performing index declines beyond its buffer amount.
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 and S&P 500
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| Amount: | $10,961,000
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| Maturity: | Oct. 17, 2019
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| Coupon: | 6.5%, payable semi-annually
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| Price: | Par
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| Payout at maturity: | Par unless either index declines by more than 20% buffer amount, in which case 1.25% loss for every 1% decline of lesser performing index beyond buffer
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| Call: | At par if each index closes at or above the strike level on Oct. 11, 2018, April 11, 2019 and Oct. 11, 2019
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| Strike levels: | 2,642.19 for S&P, 1,546.805 for Russell
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| Pricing date: | April 13
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| Settlement date: | April 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48129MMP8
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