Published on 2/14/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $20.16 million step down trigger autocallables on Russell, Stoxx, S&P
By Wendy Van Sickle
Columbus, Ohio, Feb. 14 – JPMorgan Chase Financial Co. LLC priced $20.16 million of 0% step down trigger autocallable notes due Feb. 14, 2023 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 are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par of $10 plus 10.5% per year if each index closes at or above its initial level on any quarterly observation date after one year.
At maturity, if the final level of each index is at least equal to its downside threshold, 65% of its initial level, the payout will be par plus 52.5%. Otherwise, investors will be exposed to the decline of the lesser-performing asset from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Step down trigger autocallable notes
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| Underlying assets: | S&P 500 index, Russell 2000 index, Euro Stoxx 50 index
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| Amount: | $20.16 million
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| Maturity: | Feb. 14, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 52.5% if each index closes above downside threshold; otherwise, full exposure to decline of least-performing index from initial level
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| Call: | At par plus 10.5% per year if each index closes at or above its initial level on any quarterly observation date after one year
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| Initial values: | 2,581.00 for S&P, 1,463.793 for Russell, 3,325.99 for Euro Stoxx
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| Downside thresholds: | 1,677.65 for S&P, 951.465 for Russell, 2,161.89 for Euro Stoxx; 65% of initial values
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 14
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48129L777
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