Published on 3/26/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4 million contingent interest autocallables linked to stocks
By Wendy Van Sickle
Columbus, Ohio, March 26 – JPMorgan Chase Financial Co. LLC priced $4 million of autocallable contingent interest notes due March 24, 2022 linked to the least performing of the common stocks of Alphabet Inc., Apple Inc. and Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each month, the notes pay a contingent coupon at an annual rate of 8.75% if each stock closes at or above its trigger value, 59% of its initial share price, on the review date for that month.
The notes will be called at par if each stock closes at or above its initial share price on any review date other than the first, second, third, fourth, fifth and final review dates.
The payout at maturity will be par unless any stock finishes below its trigger value, in which case investors will be fully exposed to the decline of the least-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: | Autocallable contingent interest notes
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| Underlying stocks: | Alphabet Inc., Apple Inc., Facebook, Inc.
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| Amount: | $4 million
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| Maturity: | March 24, 2022
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| Coupon: | 8.75% per year, payable monthly if each stock closes at or above trigger value on review date for that month
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger value; otherwise, exposure to decline of least-performing stock from initial share price
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any review date other than first, second, third, fourth, fifth and final review dates
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| Initial share prices: | $1,236.13 for Alphabet, $195.09 for Apple and $166.08 for Facebook
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| Trigger values: | $729.3167 for Alphabet, $115.1031 for Apple and $97.9872 for Facebook; 59% of initial share prices
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| Pricing date: | March 21
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| Settlement date: | March 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.44%
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| Cusip: | 48130WG21
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