Published on 3/12/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.14 million 8.4% contingent interest autocalls tied to indexes, oil fund
By Wendy Van Sickle
Columbus, Ohio, March 12 – JPMorgan Chase Financial Co. LLC priced $2.14 million of autocallable contingent interest notes due March 7, 2022 linked to the least performing of the S&P 500 index, the Dow Jones industrial average and the United States Oil Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.4% if each underlying component closes at or above its 60% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each component 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 any component finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worst performing index or fund.
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 assets: | S&P 500 index, Dow Jones industrial average and United States Oil Fund, LP Amount: | $2,135,000
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| Maturity: | March 7, 2022
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| Coupon: | 8.4% annualized, payable quarterly if each component closes at or above 60% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any assett finishes below 50% trigger, in which case 1% loss for each 1% decline of worst performing index or fund
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| Call: | At par plus contingent coupon if each assett 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: | 2,691.25 for S&P, 24,538.06 for Dow and $12.37 for oil fund
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| Trigger levels: | 1,614.75 for S&P, 14,722.836 for Dow and $7.422 for oil fund; 60% of initial levels
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| Coupon barriers: | 1,345.625 for S&P, $12,269.03 for Dow and $6.185 for oil fund; 50% of initial levels
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| Pricing date: | March 2
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| Settlement date: | March 7
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.4%
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| Cusip: | 48129HU54
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