Published on 6/18/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.03 million contingent coupon autocallables linked to indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, June 18 – JPMorgan Chase Financial Co. LLC priced $2.03 million of contingent coupon autocallable yield notes due June 17, 2021 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the SPDR Dow Jones Industrial Average ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 10.5% if each underlying closes at or above its trigger value, 80% 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 underlying closes at or above its initial level on any quarterly observation date other than the final one.
If the notes have not been called, the payout at maturity will be par unless any underlying asset finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing underlying finishes below its initial level.
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 autocallable yield notes
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Underlying assets: | Russell 2000 index, Nasdaq-100 index and SPDR Dow Jones Industrial Average ETF Trust
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Amount: | $2,033,000
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Maturity: | June 17, 2021
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Coupon: | 10.5% per year, payable each quarter that each asset closes at or above its 80% trigger value on the related quarterly review date
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Price: | Par
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Payout at maturity: | Par unless any asset finishes below its trigger value, in which case 1% loss for every 1% decline of the least performing asset
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Call: | At par plus the contingent coupon if each asset closes at or above its initial level on any quarterly observation date other than the final one
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Initial levels: | 7,472.294 for Nasdaq, 1,519.792 for Russell, $260.45 for fund
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Trigger values: | 5,977.8352 for Nasdaq, 1,215.8336 for Russell, $208.36 for fund, 80% of initial levels
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Pricing date: | June 12
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Settlement date: | June 19
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Underwriter: | J.P. Morgan Securities LLC
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Fees: | 1.75%
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Cusip: | 48132CUW1
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