By Jennifer Chiou
New York, Nov. 18 – JPMorgan Chase & Co. priced $9,740,170 of contingent income autocallable securities due Nov. 19, 2019 linked to the worst performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7% per year if each index closes at or above its downside threshold level, 69% of its initial level, on the determination date for that quarter.
The notes will be automatically redeemed at par plus the contingent coupon if each index closes at or above its initial level on any quarterly redemption determination date other than the final one.
If the notes are not called and each index finishes at or above its downside threshold level, the payout at maturity will be par plus the contingent coupon, if any.
If the notes are not called and any index finishes below its downside threshold level, investors will be fully exposed to the decline of the worst-performing index from its initial level.
J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Euro Stoxx 50, Russell 2000
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| Amount: | $9,740,170
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| Maturity: | Nov. 19, 2019
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 7% per year if each index closes at or above barrier level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above downside threshold level, par plus final contingent coupon, if any; if any index finishes below downside threshold level, full exposure to decline of worst-performing index from initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly redemption determination date other than the final one
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| Initial index levels: | 3,059.99 for Euro Stoxx, 1,173.805 for Russell
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| Downside threshold levels: | 2,111.3931 for Euro Stoxx, 809.92545 for Russell; 69% of initial levels
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| Pricing date: | Nov. 14
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| Settlement date: | Nov. 19
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| Agent: | J.P. Morgan Securities LLC
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| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 3%
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| Cusip: | 48127P812
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