Published on 10/4/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.44 million contingent interest autocalls on stocks
By Sarah Lizee
Olympia, Wash., Oct. 4 – JPMorgan Chase Financial Co. LLC priced $2.44 million of autocallable contingent interest notes due Sept. 28, 2022 linked to the least performing of the common stocks of NIKE, Inc., Walt Disney Co., Coca-Cola Co. and Procter & Gamble Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 9% per year if each stock closes at or above its interest barrier, 60% of its initial share price, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly review date other than first through fifth and the final dates.
If the notes have not been called, the payout at maturity will be par unless any stock finishes below its trigger level, 60% of its initial level, in which case investors will lose 1% for every 1% that the least-performing stock finishes below its initial share price.
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: | NIKE, Inc., Walt Disney Co., Coca-Cola Co. and Procter & Gamble Co.
|
| Amount: | $2.44 million
|
| Maturity: | Sept. 28, 2022
|
| Coupon: | 9% per year, payable quarterly if each stock closes at or above interest barrier 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 review date other than first through fifth and the final dates
|
| Initial share prices: | $87.69 for NIKE, $132.46 for Disney, $54.14 for Coca-Cola, $123.22 for Procter
|
| Coupon barriers: | $52.614 for NIKE, $79.476 for Disney, $32.484 for Coca-Cola, $73.932 for Procter; 60% of initial share prices
|
| Trigger levels: | $52.614 for NIKE, $79.476 for Disney, $32.484 for Coca-Cola, $73.932 for Procter; 60% of initial share prices
|
| Pricing date: | Sept. 23
|
| Settlement date: | Sept. 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.471%
|
| Cusip: | 48132FML7
|
|
|
© 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.
