Published on 5/29/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $730,000 autocallable contingent interest notes on Dow, S&P, Russell
Chicago, May 29 – JPMorgan Chase Financial Co. LLC priced $730,000 of autocallable contingent interest notes due Nov. 18, 2020 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 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 7.25% if each index closes at or above its 70% interest 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 closes below its 70% trigger level on any day 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: | Russell 2000 and S&P 500
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| Amount: | $730,000
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| Maturity: | Nov. 18, 2020
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| Coupon: | 7.25%, payable each quarter that each index closes at or above its coupon barrier on the related quarterly review date
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its initial level and any index closes below its trigger level on any day during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index
|
| Call: | Automatically 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
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| Initial levels: | 25,324.99 for Dow, 1,523.001 for Russell and 2,811.87 for S&P
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| Coupon barriers: | 17,727.493 for Dow, 1,066.1007 for Russell and 1,968.309 for S&P; 70% of initial levels
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| Trigger levels: | 17,727.493 for Dow, 1,066.1007 for Russell and 1,968.309 for S&P; 70% of initial levels
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| Pricing date: | May 13
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| Settlement date: | May 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48132CLR2
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