Published on 5/29/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.31 million autocallable contingent interest notes on indexes
By Rebecca Melvin
New York, May 29 – JPMorgan Chase Financial Co. LLC priced $1.31 million of autocallable contingent interest notes due May 6, 2021 linked to the least performing of 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 will pay a contingent quarterly coupon at an annual rate of 8.2% if each index closes at or above its 80% interest barrier on the related quarterly 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 quarterly review date other than the first and final dates.
The payout at maturity will be par unless any index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses 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: | Nasdaq-100, Russell 2000 and S&P 500
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Amount: | $1,305,000
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Maturity: | May 6, 2021
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Coupon: | 8.2% annual rate, payable each quarter that each index closes at or above its interest barrier on the related quarterly review date
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Price: | Par
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Payout at maturity: | Par unless any index finishes below its trigger level, in which case investors will be fully exposed to any losses 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 quarterly review date other than the first and final dates
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Initial levels: | 7,845.729 for the Nasdaq-100, 1,614.022 for the Russell and 2,945.64 for the S&P
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Coupon barriers: | 6,276.5832 for the Nasdaq-100, 1,291.2176 for Russell and 2,356.512 for S&P, 80% of initial levels
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Trigger levels: | 5,492.0103 for the Nasdaq-100, 1,129.8154 for Russell and 2,061.948 for S&P, 70% of initial levels
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Pricing date: | May 3
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Settlement date: | May 8
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Agent: | J.P. Morgan Securities LLC
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Fees: | $0.5%
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Cusip: | 48132CET6
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