Published on 4/9/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.41 million contingent interest autocalls tied to index, ETF
By Wendy Van Sickle
Columbus, Ohio, April 9 – JPMorgan Chase Financial Co. LLC priced $3.41 million of autocallable contingent interest notes due March 31, 2025 linked to the least performing of the iShares MSCI Emerging Markets ETF and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if each asset closes at or above its 80% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any review date other than the first, second, third and final dates.
The payout at maturity will be par unless either asset finishes below its below its 80% buffer level, in which case investors will be exposed to any losses of the worse performing asset beyond the buffer.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Euro Stoxx 50, iShares MSCI Emerging Markets ETF
|
| Amount: | $3,411,000
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| Maturity: | March 31, 2025
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| Coupon: | 9% annualized, payable quarterly if each asset closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either asset finishes below buffer, in which case 1% loss for each 1% decline of worse performing asset beyond buffer
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly review date other than first, second, third and final dates
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| Initial levels: | 3,278.72 for Stoxx and $48.41 for ETF
|
| Coupon barrier/buffer levels: | 2,622.976 for Stoxx, $38.728 for ETF, 80% of initial levels
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| Pricing date: | March 26
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| Settlement date: | March 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.29229%
|
| Cusip: | 48129MAP1
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