Published on 3/6/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.41 million 7.15% contingent interest autocalls on indexes
By Wendy Van Sickle
Columbus, Ohio, March 6 – JPMorgan Chase Financial Co. LLC priced $2.41 million of autocallable contingent interest notes due Feb. 27, 2025 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 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 7.15% if each index 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 index 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 either index finishes below its 60% trigger level, in which case investors will be exposed to any losses of the worse 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: | Russell 2000 and Euro Stoxx 50
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Amount: | $2,409,000
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Maturity: | Feb. 27, 2025
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Coupon: | 7.15% annualized, payable quarterly if each index closes at or above coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either index finishes below trigger, in which case 1% loss for each 1% decline of worse performing index
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Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than first, second, third and final dates
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Initial levels: | 3,441.46 for Stoxx, 1,549.186 for Russell
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Coupon barrier: | 2,409.022 for Stoxx, 1,084.4302 for Russell, 70% of initial levels
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Trigger: | 2,064.876 for Stoxx, 929.5116 for Russell, 60% of initial levels
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.5%
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Cusip: | 48129H4D6
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