Published on 11/27/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $496,000 callable contingent interest notes on index, ETF
By Sarah Lizee
Olympia, Wash., Nov. 27 – JPMorgan Chase Financial Co. LLC priced $496,000 of callable contingent interest notes due Nov. 23, 2021 linked to the Nasdaq-100 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, 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 semiannual coupon at an annual rate of 12.5% if each underlying asset closes at or above its 70% interest barrier on the review date for that period.
The notes may be called in whole but not in part on any interest payment date other than the final date.
The payout at maturity will be par unless either asset finishes below its 65% trigger level, in which case investors will lose 1% for each 1% that the least-performing asset is less than 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: | Callable contingent interest notes
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Underlying assets: | Nasdaq-100 index and SPDR S&P Oil & Gas Exploration & Production exchange-traded fund
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Amount: | $496,000
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Maturity: | Nov. 23, 2021
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Coupon: | 12.5% annualized, payable semiannually if each asset closes at or above 70% interest barrier on review date for that period
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Price: | Par
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Payout at maturity: | Par unless any asset finishes below 65% trigger, in which case 1% loss for each 1% decline of laggard asset
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Call: | Callable at par on any interest payment date other than final date
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Initial levels: | 6,867.015 for Nasdaq, $34.75 for ETF
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Interest barrier: | 4,806.9105 for Nasdaq, $24.325 for ETF; 70% of initial levels
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Trigger level: | 4,463.55975 for Nasdaq, $22.5875 for ETF; 65% of initial levels
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Pricing date: | Nov. 16
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Settlement date: | Nov. 26
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Agent: | J.P. Morgan Securities LLC
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Fees: | None
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Cusip: | 48130WCG4
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