Published on 5/30/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1 million 6.5% contingent interest autocalls tied to three indexes
By Susanna Moon
Chicago, May 30 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due Nov. 27, 2019 linked to the lesser performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 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 6.5% if each index closes at or above its 69% 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 above its initial level on any review date.
The payout at maturity will be par unless any index finishes below its initial level and ever closes below its 69% trigger level 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 indexes: | Euro Stoxx 50 index, Russell 2000 index, S&P 500 index
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| Amount: | $1 million
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| Maturity: | Nov. 27, 2019
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| Coupon: | 6.5% annualized, payable monthly if each index closes at or above 69% coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes initial level and ever dips below 69% trigger, in which case 1% loss for each 1% decline of worst performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date
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| Initial levels: | 3,587.25 for Stoxx, 1,625.237 for Russell and 2,724.44 for S&P
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| Trigger levels: | 2,475.202 for Stoxx, 1,121.41 for Russell and 1,879.86 for S&P, 69% of initial levels
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| Pricing date: | May 22
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| Settlement date: | May 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48129MUV6
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