Published on 6/4/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.61 million contingent interest autocallables linked to indexes
By Sarah Lizee
Olympia, Wash., June 4 – JPMorgan Chase Financial Co. LLC priced $2.61 million of autocallable contingent interest notes due June 3, 2020 linked to the least 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.
Each quarter, the notes will pay a contingent coupon at the rate of 9.65% per year if each index closes at or above its trigger value, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly autocall review date other than the final one.
If the notes have not been called, the payout at maturity will be par unless any index closes below its trigger value during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx 50
|
| Amount: | $2,606,000
|
| Maturity: | June 3, 2020
|
| Coupon: | 9.65% per year, payable quarterly if each index closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index closes below trigger value during life of notes and any index finishes below initial level, in which 1% loss for every 1% that least-performing index finishes below initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly autocall review date after one year
|
| Initial levels: | 1,489.952 for Russell 2000, 2,783.02 for S&P 500, 3,297.81 for Euro Stoxx 50
|
| Trigger values: | 1,042.9664 for Russell 2000, 1,948.114 for S&P 500, 2,308.467 for Euro Stoxx 50, or 70% of initial levels
|
| Pricing date: | May 29
|
| Settlement date: | June 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.775%
|
| Cusip: | 48132CMZ3
|
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