Published on 9/6/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $174,000 11.5% contingent interest autocalls tied to three tech stocks
By Susanna Moon
Chicago, Sept. 6 – JPMorgan Chase Financial Co. LLC priced $174,000 of autocallable contingent interest notes due Feb. 26, 2021 linked to the least performing of the common stocks of Amazon.com, Inc., Facebook, Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.5% if each stock closes at or above its 70% 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 70% 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 stocks: | Amazon.com, Inc. (Symbol: AMZN), Facebook, Inc. (Symbol: FB) and Microsoft Corp. (Symbol: MSFT)
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| Amount: | $174,000
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| Maturity: | Feb. 26, 2021
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| Coupon: | 11.5% annualized, payable quarterly if each stock closes at or above 70% 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 70% 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: | $1,932.82 for Amazon, $176.26 for Facebook and $110.26 for Microsoft
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| Trigger levels: | $1,352.974 for Amazon, $123.382 for Facebook and $77.182 for Microsoft, 70% of initial levels
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| Pricing date: | Aug. 28
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| Settlement date: | Aug. 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 4%
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| Cusip: | 48130UDP7
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