Published on 5/2/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.08 million contingent interest autocallables on indexes
By Sarah Lizee
Olympia, Wash., May 2 – JPMorgan Chase Financial Co. LLC priced $2.08 million of autocallable contingent interest notes due May 4, 2020 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each month, the notes will pay a contingent coupon at the rate of 8.1% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its initial level and any index has ever closed below 70% of its initial level during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
|
| Amount: | $2,081,000
|
| Maturity: | May 4, 2020
|
| Coupon: | 8.1% per year, payable monthly if each index closes at or above coupon barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its initial level and any index has ever closed below trigger level during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date
|
| Initial index levels: | 26,554.39 for Dow, 7,839.039 for Nasdaq and 1,598.356 for Russell
|
| Coupon barriers: | 18,588.073 for Dow, 5,487.3273 for Nasdaq and 1,118.8492 for Russell; 70% of initial levels
|
| Trigger levels: | 18,588.073 for Dow, 5,487.3273 for Nasdaq and 1,118.8492 for Russell; 70% of initial levels
|
| Pricing date: | April 29
|
| Settlement date: | May 2
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.725%
|
| Cusip: | 48132CHE6
|
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