Published on 4/30/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $600,000 3.7% contingent interest callables tied to Russell, S&P
By Susanna Moon
Chicago, April 30 – JPMorgan Chase Financial Co. LLC priced $600,000 of callable contingent interest notes due April 20, 2020 linked to the lesser performing of the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 3.7% if each index closes at or above its 65% coupon barrier on the review date for that period.
The notes are callable at par on any quarterly review date other than the final date.
The payout at maturity will be par unless either index finishes below its 60% trigger level, 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: | Callable contingent interest notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index
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| Amount: | $600,000
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| Maturity: | April 20, 2020
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| Coupon: | 3.7% annualized, payable semiannually if each index closes at or above 65% coupon barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | Par unless either index closes below 60% trigger, in which case 1% loss for each 1% decline of worse performing index
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| Call option: | At par plus contingent coupon on any quarterly review date other than the final date
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| Initial levels: | 1,562.12 for Russell, 2,670.29 for S&P
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| Coupon barriers: | 1,015.378 for Russell, 1,735.6885 for S&P, 65% of initial levels
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| Trigger levels: | 937.272 for Russell, 1,602.174 for S&P, 60% of initial levels
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| Pricing date: | April 23
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| Settlement date: | April 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.35%
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| Cusip: | 48129MB21
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