Published on 7/3/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.75 million uncapped dual directional buffered notes tied to stocks
By Wendy Van Sickle
Columbus, Ohio, July 3 – JPMorgan Chase Financial Co. LLC priced $1.75 million of 0% uncapped dual directional buffered equity notes due June 25, 2020 linked to the least performing of the class A common stocks of Facebook, Inc. and Amazon.com, Inc. and the common stocks of Netflix, Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If each stock finishes above its initial level, the payout at maturity will be par plus the gain of the worst performing stock, subject to a 30.7% contingent minimum return.
If either fund falls by up to 25%, the payout will be par plus the absolute value of the return of the worst performing stock.
Otherwise, investors will lose 1% for each 1% decline of the worst performing stock.
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: | Uncapped dual directional buffered equity notes
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| Underlying stocks: | Facebook, Inc. (class A), Amazon.com, Inc. (class A), Netflix, Inc. and Alphabet Inc.
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| Amount: | $1,749,000
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| Maturity: | June 25, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each stock gains, par plus return of worst performing stock, subject to 30.7% contingent minimum return; if any stock falls by up to 25%, par plus absolute return of worst performing stock; otherwise, 1% loss per 1% decline of worst performing stock
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| Initial levels: | $20.174 for Facebook, $1,715.67 for Amazon, $411.09 for Netflix, $1,169.29 for Alphabet
|
| Contingent buffer: | 25%
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| Pricing date: | June 22
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| Settlement date: | June 27
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.35%
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| Cusip: | 48129M2Y1
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