Published on 1/11/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.38 million contingent interest autocallables linked to Amazon
Chicago, Jan. 11 – JPMorgan Chase Financial Co. LLC priced $1,381,000 of autocallable contingent interest notes due April 9, 2020 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Amazon.com stock closes at or above the trigger price – 60% of the initial share price – on a quarterly review date, the issuer will pay a contingent coupon for that quarter at the rate of 9.5%. Otherwise, no coupon will be paid that quarter.
If the shares close at or above the initial price on a quarterly review date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Amazon.com shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price. The final stock price will be the average of the closing share prices on the five trading days ending on the final review date.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Amazon.com, Inc. (Nasdaq: AMZN)
|
| Amount: | $1,381,000
|
| Maturity: | April 9, 2020
|
| Coupon: | 9.5%, payable quarterly if stock closes at or above trigger price on review date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus contingent coupon if Amazon.com shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if Amazon.com shares close at or above initial price on a quarterly review date
|
| Review dates: | April 4, 2019, July 5, 2019, Oct. 4, 2019, Jan. 6, 2020 and April 6, 2020
|
| Initial share price: | $1,575.39
|
| Trigger price: | $945.234, 60% of initial price
|
| Pricing date: | Jan. 4
|
| Settlement date: | Jan. 9
|
| Underwriters: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48130WMZ1
|
|
|
|
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
