Published on 3/22/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $802,000 contingent interest autocallables on three indexes
By Sarah Lizee
Olympia, Wash., March 22 – JPMorgan Chase Financial Co. LLC priced $802,000 of autocallable contingent interest notes due Sept. 24, 2020 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 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 monthly 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 falls by more than 30% during the life of the notes, in which case investors will be exposed to any 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: | Autocallable contingent interest notes
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Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx 50
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Amount: | $802,000
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Maturity: | Sept. 24, 2020
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Coupon: | 7.25% per year, payable each month that each index closes at or above its coupon barrier on the related review date
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Price: | Par
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Payout at maturity: | Par unless any index finishes below its initial level and any index falls by more than 30% during the life of the notes, in which case 1% loss per 1% decline of the worst performing index
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Call: | Automatically at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date other than the first, second and final dates
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Initial levels: | 1,543.159 for Russell, 2,824.23 for S&P and 3,372.38 for Stoxx
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Coupon barriers: | 1,080.2113 for Russell, 1,976.961 for S&P and 2,360.666 for Stoxx; 70% of initial levels
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Trigger levels: | 1,080.2113 for Russell, 1,976.961 for S&P and 2,360.666 for Stoxx; 70% of initial levels
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Pricing date: | March 20
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Settlement date: | March 25
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.225%
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Cusip: | 48130WK42
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