Published on 8/7/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.82 million contingent interest autocallables on S&P, Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Aug. 7 – JPMorgan Chase Financial Co. LLC priced $1.82 million of autocallable contingent interest notes due Jan. 31, 2020 linked to the least 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 are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 7.25% if each index closes at or above its 70% coupon barrier on the related review date.
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 other than the first, second and final dates.
The payout at maturity will be par unless any index finishes below its initial level and any index ever closes below 70% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index, Euro Stoxx 50 index
|
| Amount: | $1,823,000
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| Maturity: | Jan. 31, 2020
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| Coupon: | 7.25% annualized, payable each month that each index closes at or above coupon barrier on review date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below initial level and ever closes below its trigger level, in which case 1% loss for each 1% decline of worst performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than first, second and final dates
|
| Initial levels: | 1,695.36 for Russell, 2,837.44 for S&P, 3,509.26 for Stoxx
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| Coupon barriers: | 1,186.752 for Russell, 1,986.208 for S&P and 2,456.482 for Stoxx; 70% of initial levels
|
| Trigger levels: | 1,186.752 for Russell, 1,986.208 for S&P and 2,456.482 for Stoxx; 70% of initial levels
|
| Pricing date: | July 26
|
| Settlement date: | July 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.08468%
|
| Cusip: | 48129ME69
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