Here are the catches: 

1. You open the account with $100 of your own money.
2. You keep the account open at least 6 months, or Chase takes its $200 back.
3. You set up direct deposit, or use your debit card 5x/mo, or Chase takes $6/mo from the account.

This is the 3rd coupon I've received from Chase, and I've already opened my account.  I got $100 from one of the earlier coupons with no problem.  Contact Chase at 1-800-CHASE24 to see if they will send a coupon to your home. 

Even if you opened the account and let them take $6 every month, you'd still be $164 richer at the end of 6 months!