Published on 5/21/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $640,000 contingent interest autocallables on indexes
By Wendy Van Sickle
Columbus, Ohio, May 21 – JPMorgan Chase Financial Co. LLC priced $640,000 of autocallable contingent interest notes due May 19, 2022 linked to the least performing of the Euro Stoxx 50 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 6.65%per year if each index closes at or above its trigger level, 60% of its initial level, on the review date for that quarter.
The notes will be automatically 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 and final dates.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its trigger level, in which case investors will lose 1% for every 1% that the least-performing index declines.
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: | Euro Stoxx 50, S&P 500 and Russell 2000
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| Amount: | $640,000
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| Maturity: | May 19, 2022
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| Coupon: | 6.65% per year, payable quarterly if each index closes at or above trigger level on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its trigger level, in which case investors will lose 1% for every 1% that the least-performing index declines
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than first and final dates
|
| Initial levels: | 1,548.271 for Russell, 2,850.96 for S&P and 3,385.78 for Stoxx
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| Trigger levels: | 928.9626 for Russell, 1,710.567 for S&P and 2,031.468 for Stoxx, or 60% of initial levels
|
| Pricing date: | May 15
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| Settlement date: | May 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48132CND1
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