Published on 5/21/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 callable contingent interest notes on Russell, S&P, Stoxx
Chicago, May 21 – JPMorgan Chase Financial Co. LLC sold $500,000 of callable contingent interest notes due May 13, 2021 linked to the lesser performing of the Russell 2000 index, the S&P 500 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 5.3% if each index closes at or above its interest barrier level, 60% of its initial level, on the review date for that quarter.
The notes will be callable at par on any interest payment date other than the final one.
The payout at maturity will be par plus the final coupon, unless any index finishes below the 50% trigger value, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx 50
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| Amount: | $500,000
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| Maturity: | May 13, 2021
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| Coupon: | 5.3% annualized, payable quarterly if each underlying index closes at or above interest barrier level on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon, unless any index finishes below 50% trigger level, in which case 1% loss for each 1% decline of worst performing index from initial level
|
| Call option: | At par on any quarterly interest payment date other than the final one
|
| Initial levels: | 1,572.993 for Russell, 2,881.40 for S&P and 3,361.05 for Stoxx
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| Interest barriers: | 943.7958 for Russell, 1,728.84 for S&P and 2,016.63 for the Stoxx, 60% of initial levels
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| Trigger values: | 786.4965 for Russell 2000, 1,440.70 for S&P and 1,680.525 for Stoxx, 50% of initial levels
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| Pricing date: | May 10
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| Settlement date: | May 17
|
| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48132CLU5
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