By Susanna Moon
Chicago, April 27 – JPMorgan Chase Financial Co. LLC priced $8.86 million of contingent income autocallable securities due April 23, 2021 linked to Alphabet Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.5% if the underlying stock closes at or above its 80% coupon barrier on the determination date that quarter.
The notes will be called at par if the stock closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless the stock finishes below its 80% downside threshold, in which case investors will be fully exposed to any losses.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent with distribution through Morgan Stanley Wealth Management.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying asset: | Alphabet Inc. (Symbol: GOOGL)
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| Amount: | $8,856,410
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| Maturity: | April 23, 2021
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| Coupon: | 8.5% annualized, payable quarterly if stock closes at or above 80% coupon barrier on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
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| Call: | At par if stock closes at or above initial level on any determination date other than the final date
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| Initial level: | $1,077.32
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| Downside threshold: | $861.856, 80% of initial level
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| Pricing date: | April 20
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| Settlement date: | April 25
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| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Wealth Management as a distributor
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| Fees: | 2%
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| Cusip: | 48129L157
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