Published on 9/21/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.87 million 7.25% yield autocalls tied to three stocks
By Susanna Moon
Chicago, Sept. 21 – JPMorgan Chase Financial Co. LLC priced $1.87 million of 7.25% autocallable yield notes due March 16, 2020 linked to the least performing of the shares of Coca-Cola Co., the Alibaba Group Holding Ltd. and the Applied Materials, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each underlying stock closes at or above its 95% call level on any review date other than the final date.
The payout at maturity will be par unless any stock closes below its 55% 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 yield notes
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| Underlying stocks: | Coca-Cola Co. (Symbol: KO), Alibaba Group Holding Ltd. (Symbol: BABA), Applied Materials, Inc. (Symbol: AMAT)
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| Amount: | $1,868,000
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| Maturity: | March 16, 2020
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| Coupon: | 7.25% annualized, payable monthly
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| Price: | Par
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| Payout at maturity: | If each stock closes at or above 55% trigger level, par; otherwise, 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 95% call level on any quarterly review date other than final date
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| Initial levels: | $45.72 for Coca-Cola, $162.37 for Alibaba, $39.85 for Applied
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| Trigger levels: | $25.146 for Coca-Cola, $89.3035 for Alibaba, $21.9175 for Applied, 55% of initial levels
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| Strike date: | Sept. 7
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| Pricing date: | Sept. 10
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| Settlement date: | Sept. 17
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 48130UKJ3
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