Published on 3/16/2018 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $692,000 contingent interest autocalls on Apple, Netflix, Amazon
By Wendy Van Sickle
Columbus, Ohio, March 16 – JPMorgan Chase Financial Co. LLC priced $692,000 of autocallable contingent interest notes due March 18, 2021 linked to the least performing of the common stocks of Apple Inc. and Netflix, Inc. and the class C capital stock of Amazon.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 14.55% 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 first, second, third, fourth, fifth and final dates.
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 worse 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: | Apple Inc., Netflix, Inc., Amazon.com, Inc.
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| Amount: | $692,000
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| Maturity: | March 18, 2021
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| Coupon: | 14.55% annualized, payable monthly if each stock closes at or above coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any stock finishes below trigger, in which case 1% loss for each 1% decline of worse 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, second, third, fourth, fifth and final dates
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| Initial levels: | $178.44 for Apple, $1,591.00 for Amazon $321.55 for Netflix
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| Coupon barriers: | $107.064 for Apple, $954.60 for Amazon, $192.93 for Netflix, 60% of initial levels
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| Triggers: $89.22 for Apple, $743.4375 for Amazon, $160.775 for Netlfix, 50% of initial levels
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| Pricing date: | March 14
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| Settlement date: | March 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.25%
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| Cusip: | 48129MDM5
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