Published on 3/15/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $13.09 million contingent yield trigger autocallables on Russell, Stoxx
New York, March 15 – JPMorgan Chase Financial Co. LLC priced $13.09 million of trigger autocallable contingent yield notes due March 14, 2028 linked to the lesser performing of 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 pay a contingent quarterly coupon at an annual rate of 7.4% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
After one year, the notes will be called at par if each index closes at or above its initial level on any observation date.
The payout at maturity will be par plus any contingent coupon unless either index finishes below the 50% downside threshold level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
Amount: | $13,089,330
|
Maturity: | March 14, 2028
|
Coupon: | 7.4%, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
|
Price: | Par of $10
|
Call: | After one year, will be called at par plus contingent coupon if each index closes at or above initial level on observation date
|
Payout at maturity: | Par plus any coupon unless index closes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
|
Initial levels: | 1,597.142 for Russell, 3,420.54 for Stoxx
|
Coupon barriers: | 1,117.999 for Russell, 2,394.38 for Stoxx; 70% of initial levels
|
Downside thresholds: | 798.571 for Russell, 1,710.27 for Stoxx; 50% of initial levels
|
Pricing date: | March 9
|
Settlement date: | March 14
|
Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
Fees: | 3.5%
|
Cusip: | 48129L660
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.