Published on 7/16/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.25 million contingent interest autocalls on four tech stocks
By Wendy Van Sickle
Columbus, Ohio, July 9 – JPMorgan Chase Financial Co. LLC priced $1.25 million of autocallable contingent interest notes due Dec. 31, 2020 linked to the least performing of the class A common stock of Alphabet Inc., and the common stocks of Facebook, Inc., Amazon.com, Inc. and Netflix, 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 14% if each stock closes at or above its 60% 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 60% 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: | Alphabet Inc., Facebook, Inc., Amazon.com, Inc. and Netflix, Inc.
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| Amount: | $1,254,000
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| Maturity: | Dec. 31, 2020
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| Coupon: | 14% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes 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 review date other than final date
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| Initial levels: | $1,691.09 for Amazon, $399.39 for Netflix, $199.00 for Facebook and $1,118.46 for Alphabet
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| Trigger levels: | $1,014.654 for Amazon, $239.634 for Netflix, $119.40 for Facebook and $569.64 for Alphabet, 60% of initial levels
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| Pricing date: | June 26
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| Settlement date: | June 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 4%
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| Cusip: | 48129M3H7
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