Published on 1/10/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $5.3 million autocallable contingent interest notes tied to indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Jan. 10 – JPMorgan Chase Financial Co. LLC priced $5.3 million of autocallable contingent interest notes due Jan. 8, 2020 linked to the least performing of the S&P 500 index, the Euro Stoxx Banks index and the iShares MSCI Emerging Markets exchange-traded fund, 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 10.2% if each underlying closes at or above its interest barrier level, 70% of its initial level, on any interest review date.
The notes will be called at par plus the contingent coupon if each underlying closes at or above its initial level on any quarterly autocall review date beginning on April 5, 2018.
The payout at maturity will be par plus the final coupon unless any underlying finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worst-performing underlying 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: | Autocallable contingent interest notes
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| Underlyings: | S&P 500 index, Euro Stoxx Banks index and iShares MSCI Emerging Markets ETF
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| Amount: | $5,303,000
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| Maturity: | Jan. 8, 2020
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| Coupon: | 10.2% annualized, payable quarterly if each underlying closes at or above interest barrier level on interest review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any underlying finishes below trigger level, in which case 1% loss for each 1% decline of worst-performing underlying from initial level
|
| Call: | At par plus contingent coupon if each underlying closes at or above initial level on any quarterly autocall review date beginning on April 5, 2018
|
| Initial levels: | 2,743.15 for S&P 500, 134.42 for Stoxx, $49.13 for fund
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| Interest barriers: | 1,920.205 for S&P 500, 94.094 for Stoxx, $34.391 for fund; 70% of initial levels
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| Trigger levels: | 1,920.205 for S&P 500, 94.094 for Stoxx, $34.391 for fund; 70% of initial levels
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| Pricing date: | Jan. 5
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| Settlement date: | Jan. 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
|
| Cusip: | 48129HK89
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