Published on 10/9/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.02 million autocallable yield notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, Oct. 9 – JPMorgan Chase Financial Co. LLC priced $4.02 million of 7.1% autocallable yield notes due Oct. 2, 2020 linked to the common stocks of Electronic Arts Inc., Halliburton Co. and Verizon Communications Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The notes will be called at par if each stock closes at or above its call level, 95% of the initial level, on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless any stock finishes below its 55% barrier, 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 yield notes
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| Underlying assets: | Electronic Arts Inc., Halliburton Co. and Verizon Communications Inc. stocks
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| Amount: | $4,023,000
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| Maturity: | Oct. 2, 2020
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| Coupon: | 7.1% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless any asset finishes below its barrier level, in which case 1% loss for each 1% decline of the worst-performing asset
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| Call: | At par if each stock closes at or above its 95% call level on any quarterly observation date
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| Initial levels: | $116.25 for Electronics Art, $41.36 for Halliburton, $53.05 for Verizon
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| Barrier levels: | $63.9375 for Electronics Art, $22.748 for Halliburton, $29.1775 for Verizon, 55% of initial levels
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| Pricing date: | Sept. 26
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| Settlement date: | Oct. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 48130UMZ5
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