Published on 3/13/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $500,000 autocallable yield notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, March 13 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable yield notes due June 11, 2019 linked to the worst performing of the SPDR S&P Biotech ETF, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The interest rate will be 8% per year, and interest will be payable quarterly.
The notes will be called at par if each asset closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par unless any asset finishes below its initial level and any asset closes below the 64% trigger level any day during the life of the notes, in which case investors will lose 1 for every 1% that the least-performing asset falls from its initial level.
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 yield notes
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| Underlying assets: | SPDR S&P Biotech ETF, Euro Stoxx 50 index and Russell 2000 index
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| Amount: | $500,000
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| Maturity: | June 11, 2019
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| Coupon: | 8%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below initial level and any asset has closed below trigger level any day during life of notes, in which case 1% loss for every 1% decline of worst performing asset
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| Call: | At par if each asset closes at or above the initial level on any quarterly observation date after six months
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| Initial levels: | $93.65 for ETF, 1,562.204 for Russell, 3,357.86 for Stoxx
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| Trigger levels: | $59.936 for ETF, 999.81056 for Russell, 2,149.0304 for Stoxx, 64% of initial levels
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| Pricing date: | March 6
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| Settlement date: | March 9
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.65%
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| Cusip: | 48129MCH7
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