Published on 5/3/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2 million 8.25% contingent yield trigger autocalls on two indexes
By Susanna Moon
Chicago, May 3 – JPMorgan Chase Financial Co. LLC priced $2 million of trigger autocallable contingent yield notes due April 29, 2021 linked to the lesser 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 are guaranteed by JPMorgan Chase & Co.
The notes pay a contingent quarterly coupon at an annual rate of 8.25% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any observation date after six months.
The payout at maturity will be par unless either index finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
UBS Financial Services Inc. is the placement agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $2 million
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| Maturity: | April 29, 2021
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| Coupon: | 8.25% annualized, payable quarterly if each index closes at or above its 70% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss per 1% decline of worse performing index
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| Call: | At par if each index closes at or above its initial level on any observation date beginning Oct. 25, 2018
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| Initial levels: | 2,639.40 for S&P, 1,550.467 for Russell
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| Downside thresholds: | 1,847.58 for S&P, 1,085.327 for Russell, 70% of initial levels
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| Pricing date: | April 25
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| Settlement date: | April 30
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| Agent: | UBS Financial Services Inc.
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| Fees: | None
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| Cusip: | 48129N609
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