Published on 10/3/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.69 million contingent interest autocalls on indexes, fund
By Sarah Lizee
Olympia, Wash., Oct. 3 – JPMorgan Chase Financial Co. LLC priced $1.69 million of autocallable contingent interest notes due Sept. 29, 2023 linked to the least performing of the Invesco QQQ Trust, Series 1, the S&P 500 index and the Russell 2000 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 7.25% if each underlying asset closes at or above its 70% coupon barrier on the review date for that quarter, in which case a coupon will also be paid for any past quarter during which no coupon was paid.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any review date other than the final date.
The payout at maturity will be par unless any asset finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worst performing index or fund.
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 assets: | Invesco QQQ Trust, Series 1, S&P 500 index and Russell 2000 index
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| Amount: | $1,686,000
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| Maturity: | Sept. 29, 2023
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| Coupon: | 7.25% annualized, payable quarterly if each asset closes at or above 70% coupon barrier on review date for that quarter, in which case a coupon will also be paid for any past quarter during which no coupon was paid
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below 70% trigger, in which case 1% loss for each 1% decline of worst performing index or fund
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any review date other than final date
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| Initial levels: | $185.79 for fund, 1,696.571 for Russell, 2,913.98 for S&P
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| Trigger levels: | $130.053 for fund, 1,187.5997 for Russell, 2,039.786 for S&P, 70% of initial levels
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| Pricing date: | Sept. 28
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| Settlement date: | Oct. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.89687%
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| Cusip: | 48130UFQ3
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