Published on 10/11/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $960,000 contingent interest autocalls on indexes, fund
By Wendy Van Sickle
Columbus, Ohio, Oct. 11 – JPMorgan Chase Financial Co. LLC priced $960,000 of autocallable contingent interest notes due Jan. 2, 2020 linked to the least performing of the Invesco QQQ Trust, Series 1, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 6.3% if each underlying asset closes at or above its 70% coupon barrier on the review date for that month.
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 and final dates.
The payout at maturity will be par unless any asset finishes below its initial level and any asset ever closes below its 70% 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: | Invesco QQQ Trust, Series 1, S&P 500 index and Euro Stoxx 50 index
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| Amount: | $960,000
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| Maturity: | Jan. 2, 2020
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| Coupon: | 6.3% annualized, payable monthly if each asset closes at or above 70% coupon barrier on review date
|
| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below initial level and any asset ever closes below 70% 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 and final dates
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| Initial levels: | $185.83 for fund, 3,449.79 for Stoxx, 2,914.0 for S&P
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| Trigger levels: | $130.081 for fund, 2,414.853 for Stoxx, 2,039.8 for S&P, 70% of initial levels
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| Pricing date: | Sept. 27
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| Settlement date: | Oct. 2
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48130ULV5
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