By Wendy Van Sickle
Columbus, Ohio, Aug. 25 – JPMorgan Chase Financial Co. LLC priced $5.37 million of contingent income autocallable securities due Aug. 28, 2019 linked to the common units of Blackstone Group LP, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 11.85% if the stock closes at or above the 80% downside threshold on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial level on any determination date other than the final date.
The payout at maturity will be par plus the final coupon unless the stock finishes below the downside threshold, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
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| Underlying stock: | Blackstone Group LP
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| Amount: | $5,374,400
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| Maturity: | Aug. 28, 2019
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| Coupon: | 11.85% per year, payable quarterly if Blackstone shares close at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | At par plus contingent coupon if Blackstone shares close at or above initial share price on any quarterly determination date other than final determination date
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| Initial share price: | $28.23
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| Downside threshold: | $22.584, 80% of initial share price
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| Pricing date: | Aug. 23
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| Settlement date: | Aug. 26
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| Agent: | J.P. Morgan Securities LLC
|
| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
|
| Cusip: | 46646X696
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