Published on 6/27/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $7.13 million contingent interest autocalls tied to indexes, fund
By Wendy Van Sickle
Columbus, Ohio, June 27 – JPMorgan Chase Financial Co. LLC priced $7.13 million of autocallable contingent interest notes due June 23, 2023 linked to the worst performing of the Euro Stoxx 50 index, the Russell 2000 index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.85% if each underlying asset closes at or above its 60% coupon barrier on the review date.
The notes will be called at par plus the contingent coupon if each asset 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 any underlying asset finishes below 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index or fund.
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.
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| Issue: | Autocallable contingent interest notes
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| Underlying assets: | Euro Stoxx 50 index, Russell 2000 index, SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $7,125,000
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| Maturity: | June 23, 2023
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| Coupon: | 7.85% annualized, payable monthly if each asset closes at or above coupon barrier on review date
|
| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below trigger, in which case 1% loss for each 1% decline of worse performing index or fund
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date other than first, second, third and final dates
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| Initial levels: | 3,456.79 for Stoxx, 1,664.625 for Russell and $42.36 for fund
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| Coupon barrier/triggers: | 2,407.72 for Stoxx, 1,194.8895 for Russell and $25.416 for fund, 60% of initial levels
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| Pricing date: | June 20
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| Settlement date: | June 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.6%
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| Cusip: | 48129MWJ1
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