Published on 4/23/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $25,000 8.5% contingent interest autocalls tied to three indexes
By Susanna Moon
Chicago, April 23 – JPMorgan Chase Financial Co. LLC priced $25,000 of autocallable contingent interest notes due April 18, 2019 linked to the worst performing of the S&P 500 index, the Russell 2000 index 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 8.5% if each index closes at or above its 65% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless either index finishes below its initial level and ever closes below its 65% barrier level during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing index.
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: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $25,000
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| Maturity: | April 18, 2019
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| Coupon: | 8.5% annualized, payable quarterly if each index closes at or above 65% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index ends below initial level and ever closes below 65% barrier, in which case 1% loss for each 1% decline of worse performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than final date
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| Initial levels: | 2,656.30 for S&P, 1,549.509 for Russell and 3,448.00 for Stoxx
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| Barrier levels: | 1,726.595 for S&P, 1,007.1809 for Russell and 2,241.20 for Stoxx, 65% of initial levels
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| Pricing date: | April 13
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| Settlement date: | April 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48129MHH2
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