Published on 2/8/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.25 million contingent interest autocalls tied to three indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 8 – JPMorgan Chase Financial Co. LLC priced $2.25 million of autocallable contingent interest notes due Feb. 5, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate 7.1% if each index closes at or above its 70% coupon barrier on the review date for that month
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly autocall review date after six months.
The payout at maturity will be par unless any index finishes below its 75% trigger value, in which case investors will be fully exposed to any losses of the worst 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: | Autocallable contingent interest notes
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Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
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Amount: | $2,254,000
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Maturity: | Feb. 5, 2020
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Coupon: | 7.1% annualized, payable monthly if each index closes at or above coupon barrier on review date for that month
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless any index finishes below trigger level, in which case 1% loss for each 1% decline of worst performing index
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Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly autocall review date after six months
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Initial index levels: | 2,823.81 for S&P, 1,574.982 for Russell and 3,609.29 for Stoxx
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Coupon barriers: | 1,976.667 for S&P, 1,102.4874 for Russell and 2,526.503 for Stoxx; 70% of initial levels
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Trigger levels: | 2,117.8575 for S&P, 1,181.2365 for Russell and 2,706.9675 for Stoxx; 75% of initial levels
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Pricing date: | Jan. 31
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Settlement date: | Feb. 5
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 48129HXC6
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