Published on 9/24/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3 million contingent interest autocalls tied to indexes, fund
By Wendy Van Sickle
Columbus, Ohio, Sept. 24 – JPMorgan Chase Financial Co. LLC priced $3 million of autocallable contingent interest notes due Sept. 22, 2022 linked to the least performing of the SPDR S&P Oil & Gas Exploration & Production ETF, 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 7.4% if each underlying asset closes at or above its 60% coupon barrier on the review date for that quarter.
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 asset finishes below its 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.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying assets: | SPDR S&P Oil & Gas Exploration & Production ETF, Russell 2000 index and Euro Stoxx 50 index
|
| Amount: | $3 million
|
| Maturity: | Sept. 22, 2022
|
| Coupon: | 7.4% annualized, payable quarterly if each asset closes at or above 60% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below 60% trigger, in which case 1% loss for each 1% decline of worst performing index or fund
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any review date other than first, second, third and final dates
|
| Initial levels: | $42.25 for fund, 1,702.934 for Russell, 3,368.56 for Stoxx
|
| Trigger levels: | $25.35 for fund, 1,021.7604 for Russell 2,021.136 for Stoxx 60% of initial levels
|
| Pricing date: | Sept. 18
|
| Settlement date: | Sept. 24
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.75%
|
| Cusip: | 48130UJR7
|
|
|
© 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.
