Published on 9/26/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $5 million contingent interest autocalls tied to indexes, fund
By Wendy Van Sickle
Columbus, Ohio, Sept. 26 – JPMorgan Chase Financial Co. LLC priced $5 million of autocallable contingent interest notes due Sept. 28, 2020 linked to the least performing of the iShares MSCI Emerging Markets ETF, the Nikkei 225 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% if each underlying asset closes at or above its 64.25% coupon barrier on the review date for that quarter, in which case a coupon will also be paid for any past quarter during which no coupon was paid.
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 final date.
The payout at maturity will be par unless any asset finishes below its 64.25% 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying assets: | iShares MSCI Emerging Markets ETF, Nikkei 225 index and Euro Stoxx 50 index
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| Amount: | $5 million
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| Maturity: | Sept. 28, 2020
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| Coupon: | 7% annualized, payable quarterly if each asset closes at or above 64.25% coupon barrier on review date for that quarter, in which case a coupon will also be paid for any past quarter during which no coupon was paid
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below 64.25% trigger, in which case 1% loss for each 1% decline of worst performing index or fund
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| Call: | At par plus contingent coupon if each asset closes at or above initial level on any review date other than final date
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| Initial levels: | $43.23 for fund, 23,869.93 for Nikkei, 3,430.81 for Stoxx
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| Trigger levels: | $27.77528 for fund, 15,336.43003 for Nikkei, 2,204.29543 for Stoxx 64.25% of initial levels
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| Pricing date: | Sept. 21
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| Settlement date: | Sept. 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48130UMJ1
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