Published on 3/20/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.04 million 7.35% contingent interest autocalls on Russell, Stoxx
By Susanna Moon
Chicago, March 20 – JPMorgan Chase Financial Co. LLC priced $3.04 million of contingent interest notes due March 10, 2021 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 will pay a contingent quarterly coupon at an annual rate of 8.75% if each index closes at or above its 80% 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 plus any contingent coupon unless either index finishes below its 65% trigger level, in which case investors will lose 1% for each 1% decline 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $3,043,000
|
| Maturity: | March 10, 2021
|
| Coupon: | 8.75% annualized, payable quarterly if each index closes at or above 80% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index falls by more than 45%, in which case 1% loss for each 1% decline of worse performing index
|
| 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
|
| Initial levels: | 1,546.048 for Russell and 3,355.32 for Stoxx
|
| Coupon barriers: | 1,236.838 for Russell, 2,684.256 for Stoxx; 80% of initial levels
|
| Trigger levels: | 1,004.93 for Russell, 2,180.958 for Stoxx; 65% of initial levels
|
| Pricing date: | March 5
|
| Settlement date: | March 8
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48129MCK0
|
|
|
|
|
© 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.
