Published on 1/11/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $85,000 contingent coupon autocallable yield notes on indexes
By Sarah Lizee
Olympia, Wash., Jan. 11 – JPMorgan Chase Financial Co. LLC priced $85,000 of contingent coupon autocallable yield notes due Jan. 13, 2021 linked to the Nasdaq-100 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 pay a contingent quarterly coupon at an annual rate of 15% if each index closes above its 79% 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 quarterly observation date other than the final one.
If the notes are not called, the payout at maturity will be par unless any index finishes below its barrier, in which case investors will be fully exposed to the decline of the least-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying indexes: | Nasdaq-100, S&P 500, Russell 2000
|
| Amount: | $85,000
|
| Maturity: | Jan. 13, 2021
|
| Coupon: | 15% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless any index finishes below its barrier level, in which case 1% loss for each 1% decline of the worst-performing index
|
| Call option: | At par if each index closes at or above its initial level on any quarterly observation date other than the final one
|
| Initial index levels: | 6,600.694 for Nasdaq, 2,584.96 for S&P, 1,438.807 for Russell
|
| Barrier levels: | 5,214.54826 for Nasdaq, 2,042.1184 for S&P, 1,136.65753 for Russell, 79% of initial levels
|
| Pricing date: | Jan. 9
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| Settlement date: | Jan. 11
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48130WRT0
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