Published on 10/5/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $968,000 contingent interest autocalls on three stocks
By Wendy Van Sickle
Columbus, Ohio, Oct. 5 – JPMorgan Chase Financial Co. LLC priced $968,000 of autocallable contingent interest notes due Oct. 3, 2022 linked to the least performing of the common shares of Amazon.com, Inc., Marathon Oil Corp. and Micron Technology, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 17.5% if each stock closes at or above its 60% coupon barrier on the review date for that period.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the first and final dates.
The payout at maturity will be par unless any stock finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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 stock: | Amazon.com, Inc., Marathon Oil Corp. and Micron Technology, Inc.
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Amount: | $968,000
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Maturity: | Oct. 3, 2022
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Coupon: | 17.5% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on review date for that period
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below 50% trigger, in which case 1% loss for each 1% decline of worst performing stock
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Call: | At par plus contingent coupon if each stock closes at or above initial level on any review date other than first and final dates
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Initial levels: | $2,003.00 for Amazon, $23.28 for Marathon, $45.23 for Micron
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Coupon barriers: | $1,201.80 for Amazon, $13.968 for Marathon, $27.138 for Micron, 60% of initial levels
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Trigger levels: | $1,001.50 for Amazon, $11.64 for Marathon, $22.615 for Micron, 50% of initial levels
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Pricing date: | Sept. 28
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Settlement date: | Oct. 5
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0%
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Cusip: | 48130ULY9
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