Published on 8/17/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $16.91 million 6.85% yield autocalls on Stoxx, Russell
By Susanna Moon
Chicago, Aug. 17 – JPMorgan Chase Financial Co. LLC priced $16.91 million of trigger autocallable contingent yield notes due Aug. 15, 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 pay a contingent quarterly coupon at an annual rate of 6.85% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are callable at par on any quarterly observation date after one year.
The payout at maturity will be par unless either index finishes below its 50% 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.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | J.P. Morgan Securities LLC
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000, Euro Stoxx 50
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| Amount: | $16,906,330
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| Maturity: | Aug. 15, 2028
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| Coupon: | 6.85% annualized, payable quarterly if each index closes at or above its 70% coupon barrier on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, 1% loss per 1% decline of worse performing index
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| Call: | At par if index closes at or above its initial level on each quarterly observation date beginning Aug. 12, 2019
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| Initial levels: | 1,686.804 for Russell, 3,426.28 for Stoxx
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| Coupon barriers: | 1,180.763 for Russell, 2,398.40 for Stoxx; 70% of initial levels
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| Trigger levels: | 843.402 for Russell, 1,713.14 for Stoxx; 50% of initial levels
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| Pricing date: | Aug. 10
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| Settlement date: | Aug. 15
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 3.5%
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| Cusip: | 48129N195
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