Published on 2/6/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $846,000 13.5% contingent interest autocallables tied to tech stocks
By Susanna Moon
Chicago, Feb. 6 – JPMorgan Chase Financial Co. LLC priced $846,000 of autocallable contingent interest notes due July 30, 2020 linked to the least performing of the class A common stock of Facebook, Inc., the common stocks of Netflix, Inc. and Amazon.com, Inc. and the class C common stock of Alphabet 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 13.5% if each stock closes at or above its 65% coupon barrier on the review date for that quarter.
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 final date.
The payout at maturity will be par unless any stock finishes below its 65% 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 assets: | Facebook, Inc. (Symbol: FB), Netflix, Inc. (Symbol: NFLX), Amazon.com, Inc. (Symbol: AMZN) and Alphabet Inc. (Symbol: GOOG)
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| Amount: | $846,000
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| Maturity: | July 30, 2020
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| Coupon: | 13.5% annualized, payable quarterly if each stock closes at or above 65% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any stock finishes below 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 quarterly review date other than final date
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| Initial levels: | $190.00 for Facebook, $274.60 for Netflix, $1,402.05 for Amazon and $1,175.84 for Alphabet
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| Trigger levels: | $123.50 for Facebook, $178.49 for Netflix, $911.3325 for Amazon and $771.914 for Alphabet, 65% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.5%
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| Cusip: | 48129HP76
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