Published on 9/6/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.28 million 5.5% contingent interest autocalls tied to indexes, fund
By Susanna Moon
Chicago, Sept. 6 – JPMorgan Chase Financial Co. LLC priced $3.28 million of autocallable contingent interest notes due Aug. 31, 2023 linked to the least performing of the Invesco QQQ Trust, series 1, the Russell 2000 index and the S&P 500 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 5.5% if each underlying asset closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each asset 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 asset finishes below its 70% 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: | Invesco QQQ Trust, series 1, Russell 2000 index and S&P 500 index
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Amount: | $3,278,000
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Maturity: | Aug. 31, 2023
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Coupon: | 5.5% annualized, payable quarterly if each asset closes at or above 70% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any asset finishes below 70% 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 asset closes at or above initial level on any review date other than first, second, third and final dates
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Initial levels: | $184.61 for fund, 1,728.422 for Russell and 2,897.52 for S&P
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Trigger levels: | $129.227 for fund, 1,209.8954 for Russell and 2,028.264 for S&P, 70% of initial levels
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Pricing date: | Aug. 28
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Settlement date: | Aug. 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 4.08427%
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Cusip: | 48129MY59
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