Published on 1/22/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.43 million step-down trigger autocalls on MSCI EAFE, Russell
By Tali Rackner
Minneapolis, Jan. 22 – JPMorgan Chase Financial Co. LLC priced $3.43 million of step-down trigger autocallable notes due Jan. 17, 2023 linked to the lesser performing of the MSCI EAFE 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.
The notes will be called at par plus an annual call premium of 7.5% if each index closes at or above its initial level on any of the first four annual observation dates or its 70% downside threshold on the final valuation date.
If either index finishes below the 70% downside threshold, the payout at maturity will be par plus the return of the lesser-performing index.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Step-down trigger autocallable notes
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| Underlying indexes: | MSCI EAFE, Russell 2000
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| Amount: | $3.43 million
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| Maturity: | Jan. 17, 2023
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| Contingent coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus return of lesser-performing index with full exposure to any losses
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| Call: | At par plus 7.5% per year if each index closes at or above initial level on first four annual observation dates or its downside threshold on final valuation date
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| Initial levels: | 2,126.1 for MSCI EAFE, 1,591.972 for Russell
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| Downside thresholds: | 1,488.27 for MSCI EAFE, 1,114.38 for Russell; 70% of initial levels
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| Pricing date: | Jan. 12
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| Settlement date: | Jan. 18
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48129K431
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