Published on 10/3/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.31 million contingent interest autocalls on three stocks
By Sarah Lizee
Olympia, Wash., Oct. 3 – JPMorgan Chase Financial Co. LLC priced $1.31 million of autocallable contingent interest notes due Oct. 1, 2021 linked to the least performing of the common shares of Boeing Co., Lockheed Martin Corp. and Raytheon Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.3% if each stock closes at or above its 70% coupon barrier on the review date for that period.
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 70% 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Boeing Co., Lockheed Martin Corp. and Raytheon Co.
|
| Amount: | $1,307,000
|
| Maturity: | Oct. 1, 2021
|
| Coupon: | 9.3% annualized, payable quarterly if each stock closes at or above 70% coupon barrier on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below 70% trigger, in which case 1% loss for each 1% decline of worst performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any review date other than final date
|
| Initial levels: | $371.90 for Boeing, $345.96 for Lockheed, $206.66 for Raytheon
|
| Coupon barriers: | $260.33 for Boeing, $242.172 for Lockheed, $144.662 for Raytheon, 70% of initial levels
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| Trigger levels: | $260.33 for Boeing, $242.172 for Lockheed, $144.662 for Raytheon, 70% of initial levels
|
| Pricing date: | Sept. 28
|
| Settlement date: | Oct. 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.3%
|
| Cusip: | 48130UKL8
|
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