By Angela McDaniels
Tacoma, Wash., June 11 – JPMorgan Chase Financial Co. LLC priced $8.04 million of contingent income autocallable securities due June 11, 2020 linked to a WTI crude oil futures contract, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 12% if oil closes at or above the downside threshold level, 70% of the initial price, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if oil closes at or above the initial price on Sept. 9, 2019, Dec. 9, 2019 or March 9, 2020.
The payout at maturity will be par plus the contingent coupon unless oil finishes below the downside threshold level, in which case investors will lose 1% for every 1% that the final price declines from the initial price.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying commodity: | First nearby month futures contract for WTI crude oil traded on New York Mercantile Exchange
|
| Amount: | $8,035,000
|
| Maturity: | June 11, 2020
|
| Coupon: | 12% per year, payable quarterly if oil closes at or above downside threshold level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless oil finishes below downside threshold level, in which case 1% loss for every 1% that final price declines from initial price
|
| Call: | Automatically at par plus contingent coupon if oil closes at or above initial price on Sept. 9, 2019, Dec. 9, 2019 or March 9, 2020
|
| Initial oil price: | $53.99
|
| Trigger value: | $37.793, or 70% of initial price
|
| Pricing date: | June 7
|
| Settlement date: | June 12
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48130URC1
|
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