By Sarah Lizee
Olympia, Wash., July 13 – JPMorgan Chase Financial Co. LLC priced $1 million of contingent interest notes due Oct. 9, 2020 linked to Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
JPMorgan Chase & Co. is the guarantor.
Each month, the notes will pay a contingent coupon at an annual rate of 14.4% if the stock closes at or above its coupon barrier level, 75% of its initial level, on the review date for that month.
The payout at maturity will be par if the stock closes above its trigger value, 85% of its initial level.
Otherwise investors will lose 1% for each 1% decline.
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: | Contingent interest notes
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| Underlying stock: | Amazon.com, Inc.
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| Amount: | $1 million
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| Maturity: | Oct. 9, 2020
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| Coupon: | Notes pay monthly contingent coupon at annual rate of 14.4% if stock closes at or above coupon barrier level on review date for that month
|
| Price: | Par
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| Payout at maturity: | Par unless stock finishes below trigger value, in which case 1% loss for each 1% decline
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| Initial level: | $3,057.04
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| Coupon barrier: | $2,292.78, 75% of initial level
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| Final barrier: | $2,598.484, 85% of initial level
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| Pricing date: | July 6
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| Settlement date: | July 9
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.6%
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| Cusip: | 48132MRK9
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