Published on 7/20/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.26 million 14.5% contingent interest autocalls on tech stocks
By Susanna Moon
Chicago, July 20 – JPMorgan Chase Financial Co. LLC priced $1.26 million of autocallable contingent interest notes due Jan. 22, 2021 linked to the least performing of the common stocks of Amazon.com Inc., Facebook, Inc., Alphabet, 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 14.5% 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying assets: | Amazon.com Inc. (Symbol: AMZN), Facebook, Inc. (Symbol: FB), Alphabet, Inc. (Symbol: GOOG) and Netflix, Inc. (Symbol: NFLX)
|
| Amount: | $1,264,000
|
| Maturity: | Jan. 22, 2021
|
| Coupon: | 14.5% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock closes below 60% trigger, in which case 1% loss for each 1% decline of worst performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any review date other than final date
|
| Initial levels: | $1,822.49 for Amazon, $207.23 for Facebook, $1,183.86 for Alphabet and $400.48 for Netflix
|
| Trigger levels: | $1,093.494 for Amazon, $124.338 for Facebook, $710.316 for Alphabet and $240.288 for Netflix, 60% of initial levels
|
| Pricing date: | July 16
|
| Settlement date: | July 19
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4%
|
| Cusip: | 48129M5J1
|
|
|
|
|
© 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.
