Published on 4/25/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $678,000 19.1% contingent interest autocalls tied to three stocks
By Susanna Moon
Chicago, April 25 – JPMorgan Chase Financial Co. LLC priced $678,000 of autocallable contingent interest notes due April 22, 2022 linked to the least performing of the common stocks of Tesla, Inc., Apple Inc. and salesforce.com, 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 19.1% if each stock closes at or above its 60% 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 final date.
The payout at maturity will be par unless any stock finishes below its 50% 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 stock: | Tesla, Inc. (Symbol: TSLA), Apple Inc. (Symbol: AAPL) and salesforce.com, inc. (Symbol: CRM)
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| Amount: | $678,000
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| Maturity: | April 22, 2022
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| Coupon: | 19.1% annualized, payable monthly if each stock closes at or above 60% 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 50% 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 the final date
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| Initial levels: | $300.08 for Tesla, $172.80 for Apple and $124.06 for salesforce
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| Coupon barriers: | $180.048 for Tesla, $103.68 for Apple and $74.436 for salesforce, 60% of initial levels
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| Trigger levels: | $165.044 for Tesla, $95.04 for Apple and $68.233 for salesforce, 50% of initial levels
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| Pricing date: | April 19
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| Settlement date: | April 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48129MNM4
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