Published on 4/17/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.22 million contingent interest autocallables on tech stocks
By Sarah Lizee
Olympia, Wash., April 17 – JPMorgan Chase Financial Co. LLC priced $1.22 million of autocallable contingent interest notes due April 21, 2022 linked to the least performing of the common stocks of Alphabet Inc., Amazon.com, Inc., Netflix, Inc. and Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes pay a contingent coupon at an annual rate of 11.2% if each stock closes at or above its trigger value, 50% of its initial share price, on the review date for that quarter.
The notes will be called at par if each stock closes at or above its initial share price on quarterly any review date other than the first, second, third 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Alphabet Inc., Amazon.com, Inc., Netflix, Inc. and Facebook, Inc.
|
| Amount: | $1,215,000
|
| Maturity: | April 21, 2022
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| Coupon: | 11.2% per year, payable quarterly if each stock closes at or above trigger value on review date for that quarter
|
| Price: | Par
|
| 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
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any quarterly review date other than first, second, third and final review dates
|
| Initial share prices: | $1,226.53 for Alphabet, $1,844.87 for Amazon, $179.65 for Facebook, $348.87 for Netflix
|
| Trigger values: | $613.265 for Alphabet, $922.435 for Amazon, $89.825 for Facebook, $174.435 for Netflix; 50% of initial share prices
|
| Pricing date: | April 15
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| Settlement date: | April 18
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.85%
|
| Cusip: | 48132CBV4
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