Published on 2/5/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.22 million 8.25% contingent interest autocalls tied to three indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 5 – JPMorgan Chase Financial Co. LLC priced $1.22 million of autocallable contingent interest notes due Jan. 31, 2023 linked to the least performing of the Russell 2000 index, 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 8.25% if each index closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless any index falls by more than 30%, in which case investors will be exposed to any losses of the worst performing index.
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 indexes: | Russell 2000, Nikkei 225 and Euro Stoxx 50
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| Amount: | $1.22 million
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| Maturity: | Jan. 31, 2023
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| Coupon: | 8.25% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any index falls by more than 30%, in which case 1% loss for each 1% decline of worst performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than first and final dates
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| Initial index levels: | 1,608.058 for Russell, 23,631.88 for Nikkei and 3,647.41 for Stoxx
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| Coupon barriers: | 1,125.6406 for Russell, 16,542.316 for Nikkei and 2,553.187 for Stoxx; 70% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48129HYC5
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