Published on 7/20/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.67 million 9.2% contingent income autocalls tied to three indexes
By Susanna Moon
Chicago, July 20 – JPMorgan Chase Financial Co. LLC priced $3.67 million of contingent income autocallable securities due July 16, 2020 linked to the worst performing of the Nikkei 225 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 will pay a contingent quarterly coupon at an annual rate of 9.2% if each underlying index closes at or above its 75% coupon barrier on the observation 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 determination date other than the final date.
The payout at maturity will be par unless any index finishes below its 75% threshold level, in which case investors will be fully 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: | Contingent income autocallable securities
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Underlying assets: | Nikkei 225 index, S&P 500 index and Euro Stoxx 50 index
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Amount: | $3,669,000
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Maturity: | July 16, 2020
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Coupon: | 9.2% annualized, payable quarterly if each index closes at or above its 75% coupon barrier on observation date for that quarter
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Price: | Par of $10
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Payout at maturity: | If each index finishes at or above threshold level, par; otherwise, 1% loss for each 1% decline of worst performing index
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Call: | At par if each index closes at or above its initial level on any determination date other than the final date
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Initial levels: | 22,597.35 for Nikkei, 2,801.31 for S&P and 3,454.54 for Stoxx
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Threshold levels: | 16,948.0125 for Nikkei, 2,100.9825 for S&P and 2,590.905 for Stoxx, 75% of initial levels
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Pricing date: | July 13
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Settlement date: | July 18
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Underwriter: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 48129ML46
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