Published on 7/25/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $5.4 million trigger autocallable contingent yield notes on Nasdaq, Stoxx
By Wendy Van Sickle
Columbus, Ohio, July 25 – JPMorgan Chase Financial Co. LLC priced $5.4 million of trigger autocallable contingent yield notes due July 18, 2023 linked to the Nasdaq-100 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 8% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any observation date after one year.
The payout at maturity will be par plus any coupon unless either index finishes below the 70% 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
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Trigger autocallable contingent yield notes
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Underlying indexes: | Nasdaq-100 and Euro Stoxx 50
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Amount: | $5,404,500
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Maturity: | July 18, 2023
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Coupon: | 8%, payable quarterly if each index closes at or above coupon barrier level on observation date
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Price: | Par of $10
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Call: | At par plus contingent coupon if each index closes at or above initial level on any observation date after one year
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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
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Initial levels: | 7,375.816 for Nasdaq, 3,454.54 Stoxx
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Coupon barriers: | 5,163.071 for Nasdaq, 2,418.18 Stoxx, 70% of initial levels
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Downside thresholds: | 5,163.071 for Nasdaq, 2,418.18 Stoxx, 70% of initial levels
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Pricing date: | July 13
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Settlement date: | July 18
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Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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Fees: | 2.5%
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Cusip: | 48129N419
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