Published on 10/15/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.56 million 9% contingent interest autocalls on tech stocks
By Susanna Moon
Chicago, Oct. 15 – JPMorgan Chase Financial Co. LLC priced $4.56 million of autocallable contingent interest notes due Sept. 30, 2021 linked to the least performing of the common stocks of Amazon.com Inc., Apple, Inc., Alphabet, Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9% if each stock closes at or above its 47% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date other than the first through fifth and final dates.
The payout at maturity will be par unless any stock finishes below its 47% 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 contingent interest notes
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| Underlying assets: | Amazon.com Inc. (Symbol: AMZN), Apple, Inc. (Symbol: AAPL), Alphabet, Inc. (Symbol: GOOG) and Netflix, Inc. (Symbol: NFLX)
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| Amount: | $4,555,000
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| Maturity: | Sept. 30, 2021
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| Coupon: | 9% annualized, payable monthly if each stock closes at or above 47% coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below 47% trigger, in which case 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 initial level on any review date other than first through fifth and final dates
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| Initial levels: | $1,974.5 for Amazon, $222.19 for Apple, $1,193.8 for Alphabet and $369.43 for Netflix
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| Trigger levels: | $928.0385 for Amazon, $104.4293 for Apple, $561.1283 for Alphabet and $173.6321 for Netflix, 47% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.5%
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| Cusip: | 48130ULJ2
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