Published on 8/10/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.52 million contingent interest autocallables on Nasdaq, Dow
By Wendy Van Sickle
Columbus, Ohio, Aug. 10 – JPMorgan Chase Financial Co. LLC priced $1.52 million of autocallable contingent interest notes due Jan. 30, 2020 linked to the least performing of the Dow Jones industrial average and the Nasdaq-100 index, 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 quarterly coupon at an annual rate of 5.9% if each index closes at or above its 70% coupon barrier on the related quarterly review date.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless any index finishes below its initial level and any index ever closes below its 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index.
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: | Dow Jones industrial average, Nasdaq-100 index
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Amount: | $1,515,000
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Maturity: | Jan. 30, 2020
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Coupon: | 5.9% annualized, payable each quarter that each index closes at or above coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any index falls and any index ever closes below trigger level during life of notes, in which case 1% loss for each 1% decline of worst 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: | 25,527.07 for Dow, 7,400.748 for Nasdaq
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Coupon barriers: | 17,868.949 for Dow, 5,180.5236 for Nasdaq; 70% of initial levels
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Trigger levels: | 17,868.949 for Dow, 5,180.5236 for Nasdaq; 70% of initial levels
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Pricing date: | July 26
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Settlement date: | July 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.875%
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Cusip: | 48129MN69
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