Published on 12/28/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $520,000 contingent interest autocalls on S&P, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Dec. 28 – JPMorgan Chase Financial Co. LLC priced $520,000 of autocallable contingent interest notes due Dec. 22, 2023 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.2% if each index closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the first, second, third and final review dates.
The payout at maturity will be par unless any finishes below its 60% trigger level, 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: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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Amount: | $520,000
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Maturity: | Dec. 22, 2023
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Coupon: | 6.2% annualized, payable quarterly if each index closes at or above 60% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any index finishes below 60% 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 other than first, second, third and final review dates
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Initial levels: | 2,506.96 for S&P, 1,349.229 for Russell and 6,342.968 for Nasdaq
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Coupon barriers: | 1,504.176 for S&P, 809.5374 for Russell and 3,805.7808 for Nasdaq, 60% of initial levels
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Pricing date: | Dec. 19
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Settlement date: | Dec. 24
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Agent: | J.P. Morgan Securities LLC
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Fees: | 4.125%
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Cusip: | 48130WKR1
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