Published on 3/14/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $819,000 contingent interest autocallables on Boeing, Delta, Facebook
New York, March 14 – JPMorgan Chase Financial Co. LLC priced $819,000 of autocallable contingent interest notes due March 14, 2022 linked to the least performing of the common stock of Boeing Co., the common stock of Delta Air Lines, Inc. and the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 16.25% if each stock closes at or above its 65% interest barrier on the review date for that month.
Starting after six months, the notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any monthly review date other than the final date.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be 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 stocks: | Common stock of Boeing Co., the common stock of Delta Air Lines, Inc. and the class A common stock of Facebook, Inc.
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| Amount: | $819,000
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| Maturity: | March 14, 2022
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| Coupon: | 16.25% annualized, payable monthly if each stock closes at or above interest barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below trigger, in which case 1% loss for each 1% loss of the worst performing stock
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| Call: | After six months, at par plus the contingent coupon if each stock closes at or above initial level on any monthly review date other than final date
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| Initial levels: | $354.52 for Boeing, $56.09 for Delta and $185.23 for Facebook
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| Interest barrier: | $230.438 for Boeing, $36.4585 for Delta and $120.3995 for Facebook; 65% of initial levels
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| Trigger value: | $212.712 for Boeing, $33.654 for Delta and $111.138 for Facebook; 60% of initial levels
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| Pricing date: | March 9
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| Settlement date: | March 14
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.47326%
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| Cusip: | 48129MDA1
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