Published on 1/2/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.31 million of contingent coupon callable yield notes on indexes
By Devika Patel
Knoxville, Tenn., Jan. 2 – JPMorgan Chase Financial Co. LLC priced $4,308,000 of contingent coupon callable yield notes due June 15, 2020 linked to the S&P 500 index, the Russell 2000 index and the MSCI EAFE 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 quarterly coupon of 10.1% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be callable in whole but not in part at par plus any coupon on any interest payment date other than the final one beginning on March 14, 2019.
The payout at maturity will be par plus the final coupon unless any index finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index.
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: | Contingent coupon callable yield notes
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| Underlying indexes: | S&P 500, Russell 2000 and MSCI EAFE
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| Amount: | $4,308,000
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| Maturity: | June 15, 2020
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| Coupon: | 10.1%, payable quarterly if each index closes at or above its coupon barrier level on observation date for quarter
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| Price: | Par
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| Payout at maturity: | If any underlying finishes below trigger level, par plus return of the worst performing underlying; otherwise, par plus coupon
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| Call option: | In whole but not in part at par plus any coupon on any interest payment date other than the final one beginning on March 14, 2019
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| Initial levels: | 2,637.72 for S&P, 1,443.095 for Russell and 1,732.45 for EAFE
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| Coupon/trigger levels: | 1,846.404 for S&P, 1,010.1665 for Russell and 1,212.715 for EAFE; 70% of initial levels
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| Pricing date: | Dec. 10
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| Settlement date: | Dec. 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.25%
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| Cusip: | 48130WKC4
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