Published on 7/9/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.3 million 7.75% yield autocalls tied to S&P 500, Russell, Stoxx
By Susanna Moon
Chicago, July 9 – JPMorgan Chase Financial Co. LLC priced $4.3 million of 7.75% autocallable yield notes due July 3, 2019 linked to the least performing of the Russell 2000 index, the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each index closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless any index ever closes below its 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worst 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 yield notes
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| Underlying indexes: | S&P 500, Euro Stoxx 50, Russell 2000
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| Amount: | $4,295,000
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| Maturity: | July 3, 2019
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| Coupon: | 7.75% annualized, payable monthly
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| Price: | Par
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| Payout at maturity: | If each index never closes below 70% trigger level, par; otherwise, 1% loss for each 1% decline of worst 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 final date
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| Initial levels: | 2,716.31 for S&P, 1,645.017 for Russell, 3,365.52 for Stoxx
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| Trigger levels: | 1,901.417 for S&P, 1,151.5119 for Russell, 2,355.864 for Stoxx, 70% of initial levels
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| Pricing date: | June 28
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| Settlement date: | July 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48129M2Z8
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