Published on 5/7/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $667,000 contingent interest notes linked to three indexes
By Angela McDaniels
Tacoma, Wash., May 7 – JPMorgan Chase Financial Co. LLC priced $667,000 of callable contingent interest notes due May 8, 2023 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, 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 the rate of 4.25% per year if each index closes at or above its interest barrier, 70% of its initial level, on the review date for that quarter.
The notes are callable at par on any interest payment date other than the first, second, third and final interest payment dates.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its trigger value, 50% of its initial level, in which case investors will be fully exposed to the decline of the least-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | Nasdaq-100, Russell 2000 and S&P 500
|
| Amount: | $667,000
|
| Maturity: | May 8, 2023
|
| Coupon: | 4.25% per year, payable quarterly if each index closes at or above interest barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below trigger value, in which 1% loss for every 1% that least-performing index finishes below initial level
|
| Call option: | At par on any interest payment date other than first, second, third and final interest payment dates
|
| Initial levels: | 7,845.729 for Nasdaq-100, 1,614.022 for Russell 2000 and 2,945.64 for S&P 500
|
| Interest barriers: | 5,492.0103 for Nasdaq-100, 1,129.8154 for Russell 2000 and 2,061.948 for S&P 500, or 70% of initial levels
|
| Trigger values: | 3,922.8645 for Nasdaq-100, 807.011 for Russell 2000 and 1,472.82 for S&P 500, or 50% of initial levels
|
| Pricing date: | May 3
|
| Settlement date: | May 8
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.75%
|
| Cusip: | 48132CKB8
|
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